P OMINISTRATION
Page 8
If you've noticed an error in this article please click here to report it so we can fix it.
Time Critical International drowned by 'perfect storm'
THE BOSS OF KENT haulier 'lime Critical International says a High Court battle with his father and a delayed E1500,000 VAT refund created a "perfect storm" that destroyed his business Baker Tilly was appointed as administrator of the firm on 2 August. Around 60 drivers were made redundant. Its director. Simon Marsh. hit the national headlines in April when his father Roger took him to court claiming he was entitled to the business. The claim was dismissed, hut Simon says it left him vitti legal fees of £354,000.
An electronic glitch in the way international hauliers claim VAT refunds also piled on the pressure. Marsh says the situation led to his bank becoming "nervous" and then him inviting Baker Tilly in to "restructure the company". He says: "It was crazy: the company was profitable. It was the perfect storm.
"Everything happened overnight. I didn't have time to do anything." Marsh adds. "I can hold my head up high, because I have not done anything wrong. It was a vicious set of circumstances. There was a family dispute that should never have come to court."
Marsh says that only TCI in his group of transport companies is affected by the administration. SMS Time Critical International, SMS Logistics, SMS Group Logistics, SMS Temp Critical International are not affected.