A SCOTTISH haulage firm cited “increasingly challenging market conditions and cost pressures” as it went into administration with the loss of around 70 jobs.
Corporate Road Solutions 24:7 Limited, a family business formed in 2005, operated a fleet of 35 trucks.
The firm, headquartered in Bathgate, West Lothian, but with bases in Glasgow and Warrington, serviced a number of blue chip accounts and specialised in the transport of goods for large supermarkets and smaller Scottish businesses, mainly across the UK.
Administrators KPMG were called in to the firm on Monday.
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The company stopped trading immediately and 66 people were made redundant while four staff members have been retained to help the joint administrators.
Blair Nimmo, joint administrator and KPMG’s UK head of restructuring, said: “Haulage remains a challenging sector and, despite the tireless efforts of the director, unfortunately, Corporate Road Solutions 24:7 Limited has now entered into administration.
“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.”
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He added: “Our attention is focused on supporting the impacted customers and employees.
“We will be working with all affected employees and the relevant government agencies, including the Partnership Action for Continuing Employment 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.” The firm also provided haulage for sectors including publishing, manufacturing, construction and food and drink.
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