Administration - Case Study

Container Haulier Business Rescued

Company's Circumstance

The company operated 17 vehicles and had over the years built up a reputation as a reliable haulier with customers including international shipping lines. The company had accrued debts to HMR & C due to a number of factors resulting in a petition to wind up the company.


In March 2008 The Business Debt Advisor helped the company apply for a validation order to allow the company to continue trading and an Administration Order was granted a week later. The existing directors were keen to buy the business back but firstly needed to apply to the transport executive for a temporary licence to allow their newly established company to trade as a haulier. The company traded in administration for a number of weeks whilst newco sorted out its licence and funding and the business and assets were then sold to newco.

20 Jobs were saved and the business was preserved. The company will proceed into liquidation so that creditors can receive a distribution which is likely to be much higher than if the company had been wound up as the employees claims were substantial. Also leasing terminations claims were avoided.


The Next Step

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