Fri, 10 Sep 2021 | ADMINISTRATION
Buyers are being sought for the business and assets of Derbyshire-based haulage company Sprintdeliver after it entered administration. The company’s collapse has been attributed to the impact of COVID-19 and the UK’s shortage of HGV drivers.
The company’s administrator, Interpath Advisory, said in a statement: “In recent months, the company had encountered significant financial challenges due both to the impact of the COVID-19 pandemic on trading and difficulties in attracting and retaining heavy goods vehicle drivers.”
The Glossop-based firm had a fleet of 30 lorries and 30 trailers. In its most recent financial accounts, for the year ending March 31 2020, it reported fixed assets of £525,474 and current assets of £1.35 million. At the time of filing, Sprintdeliver owed £1.1 million to creditors within one year and £353,408 falling after one year, with total equity standing at £341,736.
The company, which was founded in 1991, had ceased trading prior to the appointment of Interpath Advisory’s Neil Morley and Howard Smith as joint administrators. Upon the appointment of the joint administrators, the business had no prospect of resuming trading and its workforce of 35 staff were made redundant.
Joint administrator Neil Morley said: “Haulage companies up and down the country are currently facing significant challenges, not least an acute shortage of HGV drivers, which in turn is resulting in increased wage costs and higher staff turnover.”
“Unfortunately, these challenges proved to be insurmountable for Sprintdeliver, prompting the director to take the difficult decision to place the company into administration. Our priority in the coming days is to assist the employees in making claims to the Redundancy Payments Office, while we also seek buyers for the company’s business and assets.”
View the latest distressed UK businesses here.
This long-established commercial refrigeration business, based in the South East, boasts a well-respected brand and an extensive client list across the hospitality, medical, and marine industries.
This Midlands-based MSP has a proven track record delivering tailored IT solutions to a diverse client base across sectors such as automotive, healthcare, and construction.
An opportunity has arisen to acquire a leading luxury florist company supplying high profile, prestigious clients. Its client list includes luxury brands, film companies, event planners, catering firms as well as corporate and private clients.
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.