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)

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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