Melton Mowbray transport firm and Palletline member S&J European Haulage is on the verge of appointing an administrator.
Documents filed in court showed that the company lodged an application to appoint an administrator using the law firm Browne Jacobson LLP on 22 February.
The haulier has been trading since the 1980s and currently holds a standard international licence authorising 45 HGVs and 80 trailers running out of the Melton Commercial Park.
Its last set of accounts, for the year ending 30 November 2022 showed that turnover had increased by 3.5% to £12.7m.
However, pre-tax profit had reduced by £110,000 to £246,000.
The company said the increase in revenues demonstrated a quick return to pre-Covid trading levels, but it also pointed to significant inflationary cost pressures in the sector.
“The directors consider fuel prices and staff costs to continue to be the main risks for the company,” it added in a statement signed off by the board.
“These are reviewed regularly and carefully managed and we continue to use a fuel escalator to mitigate the impact.”
During the trading period S&J employed 80 staff, of which 52 were drivers.
The company and Browne Jacobson were both approached for comment.
