F Swain confirms haulage exit and property focus
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F SWAIN AND SONS (Holdings) has withdrawn an O-licence application for 14 vehicles and 20 trailers after deciding not to re-enter the haulage sector.
The holding company – parent of F Swain and Sons, which went into administration in May 2010 with losses of more than £2m – made the application for its site on the Adlington Business Park in Macclesield, Cheshire.
The irm says it still intends to submit a revised application for one vehicle to carry out jobs for its property clients.
Andy Powell, accountant at F Swain and Sons (Holdings), tells CM: “We are basically just a property company and intend to keep one, possibly two, vehicles to transport items over short distances for our clients. There was an idea that we might get back into transport, which was why we initially applied, but we thought better of it after reassessing the situation. We have no intention of going back into transport.” Administrator BDO Stoy Hayward attempted to sell F Swain and Sons as a going concern, but no buyers were forthcoming. F Swain and Sons (Holdings) was unaffected by the administration.