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.
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