Fri, 08 Nov 2024 | ADMINISTRATION
A Doncaster-based logistics firm McGregor Logistics has appointed administrators after dropping into financial difficulties.
The company was formed over 30 years ago and has bases in Doncaster, Scunthorpe, Peterborough and Tilbury. It offers a range of services including Full Load Deliveries, Biomass Sourcing and Supply, Pallet Distribution, European Delivery, Warehousing, HGV Vehicle Servicing and Repairs, Fulfilment Services and Amazon Deliveries.
It operates curtain sided trailers, walking floor trailers, Moffett mounted curtain sided trailers, skeletal trailers, refrigerated box trailers and low loaders.
In 2020 it took out a three-year lease on a 40,000sq ft unit at the St Modwen Park industrial estate and the following year took out an additional 55,000 sq ft of space at the site.
Insolvency practitioners at Forvis Mazars in Manchester and London were appointed to the international haulage firm at the end of October.
According to its most recent accounts to June 30, 2022 McGregor Logistics turnover increased to £20.3 million from £17.8 million in 2021. It posted a profit of £376,395 down on the previous year’s £414,725.
It added that its gross margin had been ‘eroded by rising fuel costs and the national driver shortage’. It also invested nearly £1 million in new commercial vehicles. At the time it had net assets of £1.17 million and it declared that it had ‘solid foundations from which to continue to successfully grow the business’.
According to the accounts it employed an average of 145 staff.
The haulage industry has been blasted by the uncertainty in the UK and global economy, supply chain disruptions and rising fuel and vehicle prices.
According to trade body The Road Haulage Association the average profit margin for businesses in the sector has fallen to as low as 2%. Nearly 500 hauliers went out of business in the UK 2023 with 2024 numbers also looking bleak.
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