Mon, 23 Sep 2024 | ADMINISTRATION
A transport company based in Wiltshire has fallen into administration after operating for more than 30 years, with administrators from KBL Advisory appointed to oversee the winding up of the business.
SL Transport UK Limited was a specialist in pallet network and general haulage, including curtainsider loads, box trailer and smaller and partial loads. The company was incorporated in 1991 and operated four sites across the West Country, including locations in Swindon and Wootton Bassett. It held an international license authorising a total of 19 heavy goods vehicles (HGVs) and eight trailers.
The company was known to have been a member of the Palletways network, but had reportedly left the network as of six months ago. At the time of its most recent accounts, the company stated that it employed 22 staff.
Richard Cole and Steve Kenny of KBL Advisory were appointed as joint administrators of the company at the end of August 2024.
In its most recent accounts, for the year ending December 31 2022, the company reported turnover of close to £1.9 million, up slightly from around £1.8 million a year earlier. However, the company fell from a post-tax profit of around £76,000 to a post-tax loss of approximately £76,000.
At the time, its fixed assets were valued at slightly over £77,000 and current assets at around £481,000. However, its net liabilities at the time amounted to nearly £50,000.
Insolvency rates in the UK's haulage industry have been increasing over recent months - find out more about the range of headwinds that are contributing to rising levels of financial distress
Click here to download our free guide on finding and buying distressed businesses and assets
This thriving value added meat company, prominently featured in major retailers like Tesco and Sainsbury's, boasts impressive growth with sales projected to more than double by 2026. The business has shown remarkable growth and we are poised to incre...
An established electrical wholesaler presents a unique opportunity for a buyer to enter or expand within the industry, offering a solid foundation and potential for growth.
This well-formed business is a leading wholesaler and distributor of alcoholic and soft beverages in the North West of England, demonstrating a strong distribution network with five centres and a fleet of vehicles that set it apart with same-day deli...
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.