BRIEFS Licence for reborn firm
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• A company formed to take over the business of Lydnev haulage, which is now in liquidation, has been granted a fresh licence by Western Deputy Traffic Commissioner Lester MadreIL Lydney Haulage Contractors had sought a national licence for nine vehicles and five trailers at a Cheltenham public inquiry.
For the new company, Anthony Jeremy said that managing director Andrew Thorne was formerly a director of Lydney Haulage while Brian Wardrobe, a director and company secretary of the new company, had been a director and company secretary of Lydney I laulage.
The assets of the old company had been acquired by the new company in October 1996 and there was a major new shareholder, Jeremy added.
After hearing that one of the issues would be the financial stability of the new company, Madre]] said he was happy with the evidence produced in relation to that, but last year there had been "a bit of a crop of prohibitions" on vehicles belonging to the old company which gave him some cause for concern.
Jeremy said that a fitter had been found to have been consistently writing up records to say that work had been done when it had not. He had been dismissed and Thorne said there had been no further problems since. Wardrobe said he was a financial consultant and had only been a director of the old company for a month. Asked why the liquidation occurred, he said there had been a ludicrous overdraft facility and the company had to place too much reliance on credit.