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Two construction hauliers call in the administrators
Page 8
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By jean I13 Bourke
THE STATE OF the building sector has forced construction hauliers Bodmin Blocks and Vaughan Logistics into administration.
Deloitte was appointed at Penwithick, South Cornwall-based Bodmin Blocks on 7 October, and is looking for potential buyers while it continues to trade.
The appointment comes just two days after haulage company Vaughan Logistics, which is based in Worksop, Nottinghamshire, also collapsed into administration.
Bodmin Blocks employs 80 staff and runs a fleet of approximately 60. comprising skip vehicles, low loaders, artics and rigid tippers.
According to Deloitte, the firm owns a ready-mix concrete plant and also holds haulage contracts "with a number of leading UK aggregate and china clay firms': It also runs a skip hire and waste management business with 150 skips.
Robin Allen, associate partner in Deloitte's reorganisations services practice, says: -Due to improving economic conditions, and emerging opportunities in the building products market, we'll continue to trade the business while looking for interested parties to acquire Bodmin Blocks as a going concern.
The organisation's last set of accounts to 31 March 2008 reveal that its short-term debts rose to £.3.7m from £1.4m the year before. Meanwhile, 44 employees have lost their jobs at Vaughan Logistics the same day that administrators from Mazars LLP were appointed.
Accounts for parent company Scheibler Edgewise reveal that Vaughan made a loss of £221,803 in the year to 31 December 2007 The collapse has been attributed to a slump in the construction sector.
• The latest forecast issued by the Construction Products Association suggests construction activity will not return to 2007 leveLs until 2021. 5 See next week's CM for more.