Mon, 16 Oct 2017 | ADMINISTRATION
Sugar beet handling company M&J Haulage Ltd have had their operations suspended after going into administration.
The Lincoln-based arable crops specialist, which employs 24 workers as well as a number of subcontractors, cultivates its own crops whilst also providing contract farming and haulage services to other clients in the East Midlands.
The business was said to have been struggling with "reduced contract volumes" and subsequent cash flow issues. Growing pressure from creditors and an inability to find further funding as well as a continued shortage of long-term orders meant that a realisation was soon made that the company would not be able to continue.
Chris Pole, partner at KPMG and joint administrator, explained: “The company had recently seen a decline in its order book, which led to significant pressure on its cashflow.
“Over the coming days, we will be assessing options for the business, including the possibility of resuming operations, while we explore a sale of the business and its assets.”
All employees have ceased work while the administrators continue to look at all the options available.
Search businesses in administration
Subscribe to the Business Sale Report
Long established community pharmacy. First time on the market in 30 years. Now occupying exemplary new purpose built accommodation. Standard hours. Offers invited.
LEASEHOLD
Works closely with clients to produce interior design solutions for educational institutions, which could be marketed to more sectors.Additionally offers an array of creative media, including videos,presentations, websites, branding and full direct m...
RELOCATABLE
Unopposed health centre pharmacy. Semi-rural location. In receipt of Pharmacy Access Scheme payments. Offers invited.
LEASEHOLD
|
22
|
|
Jan
|
Chelmsford warehouse management firm bought by software provider | BUSINESS SALE
Chelmsford-based warehouse management solutions provider Min...
|
21
|
|
Jan
|
MBO at Newcastle market research company | MBO/MBI
Newcastle-based market research company Explain Market Resea...
|
20
|
|
Jan
|
Target Healthcare embarks on acquisition spree | BUSINESS SALE
Target Healthcare has completed the acquisitions of a develo...
Sign up to receive our acquisition alert emails to get your FREE guide
|
14
|
|
Jan
|
Beales in sales talks to avoid administration | ADMINISTRATION
Department store chain Beales is in talks with two potential...
|
09
|
|
Dec
|
Scunthorpe construction group call in administrators | ADMINISTRATION
Scunthorpe-based Clugston Group and Clugston Construction ha...
|
06
|
|
Dec
|
KPMG agrees to sell pensions arm | DIVISION SALE
Professional services network KPMG has announced that it has...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources