Duncan Adams dissolved but staff and unsecured creditors miss out

CM 13.11.14

Staff and unsecured creditors of Grangemouth haulier Duncan Adams did not receive any money owed to them before the company was dissolved last week, writes Chris Tindall.

In a final report from administrator Deloitte, it said there had been insufficient realisations to enable a distribution to these creditors after the company entered administration in March 2017.

At the time, the move led to an immediate 132 job losses.

Deloitte said it had not been possible to trade the business, which was established in 1960 and was considered to be one of the largest privately owned haulage companies in Scotland.

As a result, steps were taken to wind it down and focus on maximising asset realisations.

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