ICSM Business News: West Midlands haulier called in administrators when crippling debts hit more than £450,000 (PLUS a list of recent business failures in logistics)
The Covid Crisis has been blamed on the collapse of haulier Adam Jones and Sons in May when the firm decided enough was enough as debts reached £453,512. The Halesowen based firm that had traded for more than a century appointed FRP Advisory to wind up the company after failing to find a buyer due to the debts.
It had got into trouble during the pandemic as work dried up and they were hit by a driver shortage. The company managed to secure a coronavirus business interruption loan of £250,000 and were helped financially by an associated company Kenyon Road Haulage. However the losses continued until the inevitable end was reached.
Writing in the trade publication Motor Transport Chris Tindall wrote: “A sale of the business was viewed to be unachievable due to its debt burden and immediate cashflow requirements and creditor pressure was building with several county court judgments and two winding-up petitions received. The company operated a fleet of more than 70 HGVs out of three operating centres, providing haulage and distribution services across the UK.”
FRP Advisory’s report to creditors said the company had been hit by the pandemic and: “Whilst the draft accounts to 31 July 2021 record an increase in turnover to £9.2m (up from £6.5m in 2020), the company incurred a loss of £453,512 for the same period. This was largely due to Covid-19 and the well documented nationwide transport issues, including driver shortages and increased fuel prices. Additionally, the company lost its membership with Pallet-Track, which resulted in the loss of one of its largest contracts.”
ICSM followed the fortunes of the firm in its final months when problems with payments became common knowledge amongst suppliers. The advice from the CEO of ICSM is to avoid extending credit terms when a comapny is in trouble in the hope payment will be made - but to
Below is a list of recent company failures in the logistics industries.
LOGISTICS: COURIERS, HAULAGE, ROAD, RAIL, SHIPPING, STORAGE
ADMINISTRATORS APPOINTED
PYRAMID SELF STORAGE LIMITED 10057251
SMV TRANSPORT LIMITED 09792159
STERLING SHIPPING AGENCIES LIMITED 11228478
TMA COURIERS LIMITED 12457011
WILSON’S EXPRESS SAME DAY LIMITED 03899942
COMPULSORY LIQUIDATOR APPOINTED
BKW TRANSPORTATION LIMITED 10048726
CMP THAMES LIMITED 03797240
D & S STORAGE LIMITED 01470681
E&R TO B TRANSPORT LIMITED 11014618
IPSWICH VEHICLE REFINISHERS (UK) LIMITED 09151033
JSK HAULAGE LIMITED 10108218
CREDITORS’ VOLUNTARY LIQUIDATION DEEMED IN CONSENT MEETINGS
ACL HIGHWAY SERVICES LIMITED 07846798
TRANSPORT92 LIMITED 09780461
GLT TRANSPORT LIMITED 11787033
KAST LOGISTICS LIMITED 07196372
RSH HAULAGE LIMITED 11908033
RUSS TRANSPORT SERVICES LIMITED 10886069
SPECIALIST STORAGE SOLUTIONS LIMITED 11695851
STREAMLINE DISPATCH UK LIMITED 09782046
WORLDWIDE CHAUFFEUR DRIVE LIMITED 06951104
LIQUIDATORS APPOINTED
ALAN HAULAGE LIMITED 09599528
ABNA TRANSPORT LIMITED 09792345
ABSL LOGISTICS LIMITED 11065448
A&Z TRANSPORT LIMITED 09168560
A B COACH TRAVEL LIMITED 10580858
BASRA TRANSPORT LIMITED 11238549
CHAUFFEUR SERVICES DIRECT LIMITED 09158819
CRAMA COACHWORKS BELL BAR LIMITED 01427388
CROYDON COACHES (UK) LIMITED 06489402
EUROPE EXPRESS BOSTON LIMITED 12073199
FAZAL COURIERS LIMITED 12176322
GOODS TRANSPORTATION LIMITED 09008347
HASHMI COURIERS LIMITED 10753436
HIGHWAY TRANSPORT LIMITED 05758433
INDUSTRIAL PLANT HIRE LIMITED 12216244
J A C COURIER SERVICES LIMITED 12357516
LONDON SMOKEHOUSE LIMITED 10807302
LUX CAR RENTAL LIMITED 11480336
M&M DELIVERY LIMITED 12029366
M & O TRANSPORT LIMITED 10141882
MKH TRANSPORT LIMITED 10881775
MOTOFLY LIMITED 06413469
OMEGA LOGISTICS LIMITED 05675235
SEVEN LOGISTIC SERVICES LIMITED 11980713
SLEEPER BUSES LIMITED 06780185
THANDI COACHES (RED) LIMITED 00526852
THE CAR TRANSPORTERS ( YORKSHIRE ) LIMITED 11255563
TOTEV TRANSPORT LIMITED 08116821
VEHICLE LOGISTIC SOLUTIONS LIMITED 12585988
VENTI AVIATION GROUP LIMITED 12385847
WHITEFIELD DISTRIBUTION LIMITED 03726308
WINNS COACHES LIMITED 07520411
MEMBERS VOLUNTARY LIQUIDATIONS
AA GARAGE SERVICES LIMITED 12916064
ACM TRUCK AND BUS REPAIRS LIMITED 07680730
CORNICHE EXPRESS SYSTEMS LIMITED 08660848
GIBBON AVIATION LIMITED 07647410
HONDA LOGISTICS UK LIMITED 02534528
LONGHAM DISTRIBUTION LIMITED 03439178
MERMAN SHIPPING (UK) LIMITED 05441982
R. J. K. VEHICLE SERVICES LIMITED 04427226
PETITIONS TO WIND UP
EAGLE EXPRESS COURIERS LIMITED 04628974
TEASDALE BULK HAULAGE LIMITED 08411733
WINDING UP ORDERS
DELIVER 365 LIMITED 11919519
DELIVER 365 LIMITED 11919519
EAGLE EXPRESS COURIERS LIMITED 09505760
PRIME COURIER LIMITED 10627307
WEMBLEY GROUP LIMITED 00879008
WINDING UP DISMISSAL
LINNEY REFRIDGERATED TRANSPORT LIMITED 09955489
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