Fri, 08 Nov 2024 | ADMINISTRATION
A Doncaster-based logistics firm McGregor Logistics has appointed administrators after dropping into financial difficulties.
The company was formed over 30 years ago and has bases in Doncaster, Scunthorpe, Peterborough and Tilbury. It offers a range of services including Full Load Deliveries, Biomass Sourcing and Supply, Pallet Distribution, European Delivery, Warehousing, HGV Vehicle Servicing and Repairs, Fulfilment Services and Amazon Deliveries.
It operates curtain sided trailers, walking floor trailers, Moffett mounted curtain sided trailers, skeletal trailers, refrigerated box trailers and low loaders.
In 2020 it took out a three-year lease on a 40,000sq ft unit at the St Modwen Park industrial estate and the following year took out an additional 55,000 sq ft of space at the site.
Insolvency practitioners at Forvis Mazars in Manchester and London were appointed to the international haulage firm at the end of October.
According to its most recent accounts to June 30, 2022 McGregor Logistics turnover increased to £20.3 million from £17.8 million in 2021. It posted a profit of £376,395 down on the previous year’s £414,725.
It added that its gross margin had been ‘eroded by rising fuel costs and the national driver shortage’. It also invested nearly £1 million in new commercial vehicles. At the time it had net assets of £1.17 million and it declared that it had ‘solid foundations from which to continue to successfully grow the business’.
According to the accounts it employed an average of 145 staff.
The haulage industry has been blasted by the uncertainty in the UK and global economy, supply chain disruptions and rising fuel and vehicle prices.
According to trade body The Road Haulage Association the average profit margin for businesses in the sector has fallen to as low as 2%. Nearly 500 hauliers went out of business in the UK 2023 with 2024 numbers also looking bleak.
Click here to download our free guide on finding and buying distressed businesses and assets
The business specialises in the supply of a range of building products and accessories for a variety of areas, such as for doors, windows, electrical fixings, heating, and plumbing. The company operates on a regional B2C basis across North West Engla...
Exciting opportunity to acquire a highly reputable lighting products supplier with a strong track record of repeat custom and stable financial performance.
A long established (35+ years) Builders Merchants business, enjoying very good weekly sales, strong profits and trading from most spacious and versatile freehold premises. Currently run by vendors (3 partners/family members) with the help of just 1 f...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.