Haulier closes down rather than face bankruptcy
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AN OLD-ESTABLISHED Warwickshire haulier closed down his business last week rather than face the prospect of ,bankruptcy. "My bank manager said it was not a question of if I stopped business, but when", Mr
Charles King-Smith, managing director of W. Inson and Son Ltd, Wellesbourne, told CM this week.
He said that despite putting half the vehicles off the road last month it had still been necessary to shut up shop.
A total of 16 rigids and artic tiactor units and 14 trailers will be auctioned next week and about 10 employees are being made redundant, though most have jobs to go to. Mr KingSmith said he had not yet made any future plans himself.
Mr King-Smith told CM that the firm had dealt with a large number of customers who had their own fleets and used hauliers to cope with peaks in demand. Recently, though, peaks had been few and far between. The company needed immediate
rates increases of 20 per cent to break evert, without taking into account recent drivers' wage and fuel cost rises. There was just no prospect of making money in the foreseeable future.
The company was established in 1947 but has been trading since the days of horsedrawn transport.