WEST Lothian haulier Corporate Road Solutions 24:7, which traded as Beau, has entered administration with the immediate loss of 66 jobs.
As Transport News went to press, KPMG was appointed to the firm as an administrator and it has now ceased trading.
The supermarket goods distributor based on the Redmill Industrial Estate in Bathgate, West Lothian, had operated as a road haulage contractor and freight forwarder since 2005.
Joint administrator Blair Nimmo says haulage remains a challenging sector and, despite the tireless efforts of the director, Corporate Road Solutions 24:7 Ltd has now entered into administration.
He adds: ‘It has not proved possible to continue trading in light of significant liabilities and cashflow difficulties. This has, in turn, resulted in the redundancies which have been announced and the closure of operations.’
KPMG said the company had suffered from increasingly challenging market conditions and cost pressures and in 2019 its problems were intensified by the departure of key freight forwarding staff to a competitor, along with the loss of a major customer.
Discussions were held with third parties with a view to securing investment or a business sale, but KPMG said no offer was forthcoming.
Blair Nimmo says: ‘Our attention is focussed on supporting the impacted customers and employees. We will be working with all affected employees and the relevant government agencies, including the PACE team at Skills Development Scotland, to ensure a full range of support is available.
‘Impacted customers and parties with an interest in the business and/or assets should contact the joint administrators as soon as possible.’
Corporate Road Solutions held a standard national licence operating out of three depots in Bathgate, Biggar and East Whitburn authorising a maximum of 90 HGVs and 110 trailers.
At the date of administration, the company employed 70 staff and KPMG said four had been retained to assist them.