ICSM Logistics Insolvency News: hauliers across the UK collapse as banks put the squeeze on, costs spiral and trade is tight in a flat-lining economy

By Harry Mottram: Debt is one of the factors dragging down businesses across the country with payment of loans to lenders overdue and the fall out from the Brexit business deal, covid, fuels cost hikes and the rise in interest rates exacerbating the situation.

The Department of Transport has reported that hauliers desperate to keep their trucks on the road are sending them out half full or almost empty. In a report from the BBC this summer Katharine Latham wrote: “In the UK, heavy goods vehicles (HGVs) travel empty, for over three billion miles every year, according to the Department for Transport (DfT). This is the equivalent of driving to the moon and back 6,500 times - or more than 5,000 years of driving.”

Clearly it is not financially sustainable for any company, said Ian Carrotte of ICSM, whose members include numerous hauliers and firms in the logistics industries. He said: “The trade publication Motor Transport has covered the collapse of numerous firms in the sector with KNP Logistics collapsing earlier this summer, and difficulties with their factoring supplier has been blamed by the Lloyd Fraser Group and its parent company Barbican Capital of its demise this month.”

Motor Transport’s Chris Tindall also reported on another firm going bust this month. He reported: “Vehicle transport specialist Glasgow Car Movers has entered administration with all 25 of its staff made redundant. Established in 1999 in Uddingston, Glasgow, the company regularly transported more than 1,000 vehicles each week across the UK and relied on a fleet of 28 HGVs operating out of two bases. According to administrator Interpath Advisory, the company had experienced liquidity pressures, in part due to the impact of the Covid-19 pandemic, coupled with rising costs. After reviewing their options, the directors resolved to appoint administrators on 12 September.”

Debt, a lack of trade and rising costs and interest rates making repayments more difficult appear to be the common factors – and running half empty lorries is only a sign that things are in a bad way. ICSM has also recorded that liquidators have been appointed to these firms in the last few weeks:

AMA LOGISTICS LIMITED    09212317

ASH LOGISTICS LIMITED    05422895

AULD TRANSPORT LIMITED    05152591

BIRMINGHAM TRUCK & BUS (GARAGES) LTD    11853322

BROADHURST TRANSPORT LIMITED    06512984

COURIER CARS (LONDON) LIMITED    06054078

C.C.T. LOGISTICS LIMITED    02878795

DAL COURIERS LTD    07867240

DAVE STONE DESIGN (CHESTERFIELD) LTD    11582321

DGK TRANSPORT LTD    09477681

DMR HAULAGE LIMITED    08957136

LIGHTNING EXPRESS WAREHOUSING AND DISTRIBUTION LTD    08763908

LITTLE GEM BUS COMPANY LTD    03695981

LOCKSTONE TRANSPORT LIMITED    06616990

M&M TRANSPORT SOLUTIONS LIMITED    11557196

PREMIER CARRIERS (SAME DAY) INTERNATIONAL LTD    05812892

ROAD COLLECTION NETWORK LIMITED    11209327

ROSCORP LOGISTICS LIMITED    11393382

STARY HAULAGE LTD    08389215

THE ELECTRIC MOTORBIKE COMPANY LTD    11136345

Administrators have been appointed to these firms:

FREIGHT MANAGEMENT EUROPEAN LIMITED    03488266

S C LYONS HAULAGE LIMITED    08882250

PHOENIX WORLDWIDE LOGISTICS LTD    02473670

WESTBROOK INDUSTRIAL LTD    03454941

While winding up orders have been filed to these companies:

EURO STORAGE (UK) LIMITED    03322498

MARITIME UK LOGISTICS LTD    12207836

MIDLANDS LOGISTICS LTD    12607241

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