Wed, 22 Apr 2015 | ADMINISTRATION
Haulage company Deben Transport has entered administration following a period of losses.
The business had offices at ports and cities across England, including Hull, Southampton, South Shields and Manchester. It also boasted a fleet of 150 44-ton vehicles and more than 200 trailers.
But despite its size, with over 220 people in its employment, Deben Transport has struggled in recent times and a strategy to turn the business around proved too little too late.
Administrators from Ensors put the company into administration earlier this month after recording losses in its last two years of trading.
A statement from Ensors read: "Management had attempted to put in place a recovery plan and had recently taken cost cutting measures in an effort to turn the business around.
"But it became apparent that its immediate short-term funding requirement could not be met and the director took the decision to place the company into administration.”
It added that the majority of the workforce “had to be made redundant once administration was inevitable”.
The business recorded a pre-tax trading loss of £658,000 in 2013 after once reporting turnovers of some £30 million. It is thought that tough competition in the industry itself played a significant role in contributing to the firm's woes.
Read about T. Baden Hardstaff, another haulage firm exploring sale options after going into administration
View the latest businesses in administration.
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