South West Delivery Services owed almost £1.3m to creditors when it was placed into liquidation in June.

Following liquidation, the operator’s business was acquired by Kay Transport, part of the Gregory Distribution group of companies, in a move that saved the majority of the workforce’s jobs.

Significant creditors to the liquidated business as of 7 June included RBS Invoice Finance, which was owed £315,918; Mercedes-Benz Financial Services, which was owed £206,700; and Natwest, which was owed £128,481.

Palletways, which both South West Delivery Services and Kay Transport are members of, was itself owed £25,000.

South West Delivery Services was headed by MD Mark Adams. Based in Truro, the company had an O-licence authorising 30 vehicles and 33 trailers.

Gregory Distribution also acquired the business, assets and goodwill of Oxfordshire firm Interoute Transport Services earlier this year, after the latter was placed into administration.