ICSM Logistics Insolvency News: record numbers go bust; sprinkler malfunctioned ahead of insolvency; administration for cargo bike haulier; plus a list of logistic firm failures

By Harry Mottram: Nearly 500 hauliers went bust in 2023, with the numbers continuing to rise in 2024 well above that figure and this year is looking just as bleak. The usual suspects behind the collapses are given by administrators from Brexit, fuel costs, labour shortages, salary rises, energy hikes and a static economy – and we haven’t heard how the USA trade tariffs will effect things.

In Grimsby Transafe Logistics have said they will appoint administrators putting their workforce and fleet of 80 HGVs out of work. Chris Tindall of Motor Transport magazine and website reported: “The directors of the company are Ann and Stuart Dytham, whose truck rental firm PT Hire in Derbyshire collapsed last year.”

In the same trade newspaper, he reported on the demise of Stara Logistics of Bedfordshire that has appointed an administrator to put in doubt its operation. It is contrast to what some have called the new e-haulage sector or e-bikes equipped to take small deliveries around town – essentially large scale delivery bicycles with an electric motor. Outspoken Logistics trading under the name of  Zedify use cargo bikes for the short journeys replacing potentially small vans and couriers – but sadly ran up costs which they couldn’t sustain. Adminstrators Interpath said Zedify said that despite some of their hubs were profitable overall the business model built debt due to low volumes and ‘high operational costs.”

Motor Transport’s Chris Tindall reported: “Zedify operated in five cities – London, Edinburgh, Manchester, Birmingham and Cambridge – and its 100% owned subsidiary, Size Works, operated its Bristol hub; in total it employed 158 staff. By 2021, it was delivering for more than 500 customers, employing over 100 living wage riders, operating 80-plus cargo bikes and making upwards of 600,000 zero-emission deliveries a year.”

In another report in Motor Transport it was revelead that the warehouse of collapsed freight outfit Tailormade Logistics had seen a malfunctioning sprinkler system soaking books stored there by a customer ruined. Dandy Booksellers said that the water had cost them £21,000 of damage and due to the insolvency of the logistics firm they had not been able to find out if insurance would cover the costs.

Ian Carrotte of ICSM said that the business membership group had a number of hauliers and logistic firms as members who have concerns about the numbers going broke. He said: “We hear constant news from members who said that some firms in the sector as well as their clients are essentially ‘zombie firms’ – they have no head room if there is an unexpected cost. Being able to hear through the grape vine that one of their customers is likely to go bust can prevent a bad debt. And one bad debt or the loss of a major customer can cause a haulier to become insolvent.”

See https://motortransport.co.uk/news

Recent companies that have hit the buffers:

ADMINISTRATORS APPOINTED

GWYNEDD TRANSPORT LIMITED    03291941

ADMINISTRATION CREDITORS MEETING   

FLYBE LIMITED    12875147

COMPULSORY LIQUIDATOR APPOINTED   

EAST COAST HAULAGE LTD    12616560

CREDITORS’ VOLUNTARY LIQUIDATION DEEMED IN CONSENT MEETINGS

A&A LOGISTICS LTD    07774818

DB COURIER SWINDON LTD    11655912

ESSEX WAREHOUSE SERVICES LIMITED    14466479

EXP DELIVERIES LTD    11919341

F9 LOGISTICS LIMITED    12852204

ROAD MATERIALS HAULAGE LIMITED    04353384

SDB HAULAGE LTD    11384832

CVL LIQUIDATORS APPOINTED

A&A LOGISTICS LTD    07774818

ABERLEY LIMITED    03217466

DB EXPRESS LTD    09520841

FORDPOWER LOGISTICS LIMITED    05455916

FREIGHTSAFE LTD    11113287

J P H LOGISTICS LIMITED    12645416

PRESCOTT HAULAGE INTERNATIONAL LIMITED    08397678

R&K LOGISTICS LTD    13138626

MEMBERS' VOLUNTARY LIQUIDATIONS

CARRIER TRANSPORT LIMITED    05475065

CV VILLAS TRANSPORT LIMITED    01450168

D W MOORE TRANSPORT LIMITED    07606703

JMT LOGISTICS LIMITED    06760338

JULES VERNE TRANSPORT LIMITED    01607764

M & M TRANSPORT LIMITED    03784665

PICKQUICK CARRIERS LIMITED    06874635

PETITIONS TO WIND UP

ALPHA25 CARS AND MINIBUSES LTD    09263053

BRIAN DOOGUE HAULAGE LIMITED    04970313

MEH LOGISTICS LIMITED    07062311

UK TRANSLOGISTICS LTD    11665467

PETITION DISMISSED

HAPS LOGISTICS LIMITED     11620973

SECRETARY OF STATE LIQUIDATION APPOINTMENT

GXO UK LOGISTICS LTD    13302161

T & N MIXERS LIMITED    09091999

WINDING UP ORDERS

EXPRESS COMMERCIALS NORTH EAST LIMITED    09279137

WHITEWELL LOGISTICS LTD    09194397

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ICSM, The Exchange, Express Park, Bristol Road, Bridgwater, Somerset TA6 4RR. Tel: 0844 854 1850. www.icsmcredit.com. Ian.carrotte@icsmcredit.com