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Cash crisis as employees set up a rival operation
Page 6
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Managers are said to have set up a rival operation which forced their employer into administration. Robert Izzard reports.
A WEST YORKSHIRE haulage firm has gone into administration — and its operations manager blames staff for setting up a rival business and undercutting contracts worth £1 .5m.
Stansfield Transport, which had a 6.400m2 warehouse at its base in Brighouse,wentintoadministration on 19 August, along with sister firm MSD Distribution and parent company Now Industries Group (NI).
Joint administrator Lloyd Biscoe, partner at Begbies Traynor, says he is not yet able to quantify the total debts of the various operations. "At MSD the fleet was rented," he adds,-But the 34 vehi des at Stansfield Transport will be sold off at auction.
"We are currently in negotiations to assign the lease for the warehouse facility at Brighouse and have sold the goodwill of MSD. No date has been fixed for the creditors' meeting."
It is understood that 34 drivers and 11 office staff and warehouse workers have lost their jobs at the Brighouse depot, and another 40 jobs have been lost at MSD Distribution in Basildon, Essex.
However, Biscoe refutes trade press reports that Stansfield Transport is in liquidation.
According to Michael Scott. group operations manager for NIG, Stansfield Transport lost more than a million pounds worth of business after two of its senior members of staff left the firm and set up a rival haulage operation, offering cheaper rates to Stansfield's customers.
He says the loss of business caused the bank to withdraw support and forced Stansfield Transport and the two other companies into administration.
Scott confirms that the goodwill of MSD has been acquired from the joint administrator and this operation is now trading as the Now Group.