Skills for Logistics (SfL) is to begin the process of a creditors’ voluntary liquidation to wind-up its operation.

A spokesman for Manchester-based corporate insolvency firm Begbies Traynor, who confirmed the decision to, added that a creditors' meeting would be held on 9 February.

The company announced earlier this month that SfL would be closing down, with the board citing the combination of a hefty pension scheme deficit and a struggle to attract revenue streams since core government funding was withdrawn in 2012 as the main reasons for the decision.

In its latest accounts filed at Companies House for the year ended 31 March 2014, SfL's total current liabilities stood at £522,427, with trade creditors owed £214,164. Turnover for the year was £3.6m with a pre-tax profit of £18,196.

Pictured is former SfL chief executive Ross Moloney.