ICSM Logistic Business Insolvency News: another one bites the dust as more hauliers go under as the economy flatlines and costs rise
By Harry Mottram: Exeter based STR Logistics have ceased trading after two decades in business marking another casualty statistic in the industry that is suffering from rising costs in a flat lining economy.
The firm had teamed up with Palletways in 2021 to expand its services to Cornwall and South Devon.
Writing in the industry trade website Motor Transport Chris Tindall reported: “The company, which employs around 80 staff and holds an operator licence authorising 20 HGVs and 12 trailers running out of its Alphington base, appointed administrators from insolvency firm SFP on 31 January.
“The company was incorporated over 20 years ago and provides transport and logistics services including two-man home deliveries, pallet distribution, trunking, secure freight handling and first/last mile operations.”
Ian Carrotte of ICSM said many hauliers were experiencing difficult trading conditions as the loans taken our during lockdowns were due for repayment. He said: “Interest rates and inflation had cut margins while a slowdown in trade due to the state of the economy hadn’t helped.”
Another recent casualty is Eclipse Distribution Solutions. Motor transport noted: “it failed to convince the traffic commissioners it had sufficient finances for its fleet size, resulting in the revocation of its licence according to the administrator.” The firm was based in Burton-on-the-Wolds and employed 41 staff.
ICSM publish lists regularly of firms that have gone bust in its Newsletter – below are some of the more recent casualties in the logistics industry.
LOGISTICS: COURIERS, HAULAGE, ROAD, RAIL, SHIPPING, STORAGE
ADMINISTRATORS APPOINTED
KEYAIR LIMITED 04259157
RYEDALE LOGISTICS LIMITED 11678177
COMPULSORY LIQUIDATOR APPOINTED
WEST MIDLANDS TRANSPORTATION LTD 10938133
CREDITORS’ VOLUNTARY LIQUIDATION DEEMED IN CONSENT MEETINGS
EPIC LOGISTICS LTD 11686499
GLOBAL DELIVERY XPRESS LIMITED 05461270
JS & SON HAULAGE LIMITED 13459732
KENTCO LOGISTICS LIMITED 07735998
LYON TRANS LTD 12097854
LIQUIDATORS APPOINTED
ALPHA CARGO LTD 12395912
ANCORA LOGISTICS LIMITED 13006569
COZMA TRANSPORT LTD 11904892
JSK TRANSPORT (LANCS) LTD 09105723
JTL COURIERS LTD 13471525
JNM LOGISTIC SERVICES LTD 08318777
KATALEYA LOGISTICS LTD 12939989
LIYANA LOGISTICS LIMITED 07750455
PASSPORT SERVICES LIMITED 05135737
PKA TRANSPORTATION LTD 10919527
STEVE HUGHES HAULAGE LIMITED 04945991
WILSFORD TRANSPORT LTD 08975948
MEMBERS VOLUNTARY LIQUIDATIONS
AFS HAULAGE LIMITED 03232328
AFS TRANSPORT HOLDINGS LIMITED 13128276
ARCS TRANSPORTS LTD 10006484
CITY GREENWICH LEWISHAM RAIL LINK PLC 03169276
LANGLEY HAULAGE LIMITED 06819289
ORTON COMMUNITY TRANSPORT ASSOCIATION LIMITED IP23729R
TLR LOGISTICS SERVICES LIMITED 08618310
PETITIONS TO WIND UP
DARIUS KNIGHT LOGISTICS LTD 11086540
R B & G L LOGISTIC LTD 12591737
WINDING UP ORDERS
AT COURIERS LTD 10546319
MAJESTIC SHIPPING INTERNATIONAL LIMITED 12733755
UK CARGO LOGISTICS SERVICES LTD 12426491
+++++++++++++++++++++++++++++++++
ICSM CREDIT
For information on ICSM visit www.icsmcredit.com or call 0844 854 1850.
ICSM, The Exchange, Express Park, Bristol Road, Bridgwater, Somerset TA6 4RR. Tel: 0844 854 1850. www.icsmcredit.com. Ian.carrotte@icsmcredit.com
About ICSM Credit
ICSM Credit has more than four decades of experience as a credit intelligence group whose members gain inside information about firms in trouble allowing them to avoid bad debts and rogue traders. To join costs less than a tank of fuel - while at the moment there's a special free temporary membership offer during the Covid-19 crisis which gives access to free legal letters. ICSM also has an effective debt collecting service which has a global reach - ask for details from Paul.
For details about ICSM Credit call 0844 854 1850 or visit the website www.icsmcredit.com or email Ian at Ian.carrotte@icsmcredit.com on how to subscribe and to join the UK’s credit intelligence network to avoid bad debts and late payers. Follow ICSM Credit on FaceBook, Twitter and YouTube and Ian Carrotte on LinkedIn.
To keep up to date subscribe to the FREE ICSM Credit Newsletter to hear all the latest insolvency news and to see who has gone out of business click on the orange panel on the top left of the home page of the website www.icsmcredit.com or send an email to Ian.carrotte@icsmcredit.com
For details for the work of the journalist Harry Mottram visit www.harrymottram.co.uk