Single Brain buyer still to be found
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• One of the UK's largest container hauliers looks doomed for demise as its receivers confirm that there is no one buyer for Brain Haulage.
Receivers KPMG Peat Marwick says most of the company's 210 vehicles have now been repossessed by finance companies and put to auction — leaving about 400 trailers and 30 tractive units for sale. The company's shipping line customers, which were not under contract,
have gone to other hauliers. The Essex-based operation ceased trading last month making more than 280 people redundant and leaving debts of more than £5m.
About 70 staff remain at Brain's container storage and repair arm, Brain Services, which is still trading_
Several offers have been received for Brain Services, which contributed around 20% of Brain Haulage's £17m turnover last year. KPMG says: "We're talk
ing to a number of interested parties. There are offers there that we've not dismissed." Brain Services stores and repairs up to 3,000 containers at seven sites.
Brain Haulage collapsed because of accumulated trading losses exacerbated by poor rates. Its customers included Tiphook, MISC and Maersk Line. , At its peak Brain Haulage operated 400 trucks.