North West haulier J R Dixon is in liquidation, with an estimated total deficiency of more than £339,000.
Insolvency experts at FRP Advisory were appointed to the Workington firm last month and they are now sifting through its records to establish what assets can be sold and whether creditors will receive a dividend.
A former Transport News Northern Haulage Company of the Year, the business was set up more than 50 years ago and it was operating 15 lorries at the time of its liquidation, under a standard international licence and out of the Lillyhall industrial estate.
Its statement of affairs showed that estimated assets available to preferential creditors was likely to be £44,653.
However, its liabilities including what it owes to HMRC and unsecured creditors, is thought to be £339,376.
It also lists £117,895.50 in redundancy and payment in lieu of notice claims.
Creditors included TIP Trailers, West Coast Commercials and Motus DAF Workington.
FRP Advisory had not responded as we went to press.
