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Closure of A&M Transport results in 100 job losses
Page 10
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By Andrew Smith A&M TRANSPORT of Pontardawe, South Wales, has been forced to call in liquidators after hitting financial difficulties.
The company employed 100 staff, all of whom have now been made redundant.
The company's affairs are now in the hands of the Cardiff office of Grant Thornton.
Alison Hill of Grant Thornton says: "We have been instructed to help the directors put the company into liquidation. The liquidation hasn't actually taken place yet." Grant Thornton press spokesman told CM: "On 13 June, Grant Thornton was instructed to assist the directors of A&M (South Wales) Ltd in A calling meetings of the company's shareholders and creditors to place the company into liquidation.
-The meetings were called for Wednesday 25 June, and notices were sent to shareholders and creditors.
-The company's activities were haulage. a garage (vehicle servicing and repairs) and a taxi business.
-Its main premises was Unit 1-3 Alloy Court Business Centre. Alloy Industrial Estate, Pontardawe, Swansea." Alistair Wardell, director of Recovery & Reorganisation, Grant Thornton, Cardiff, says: "The company ceased trading on 13 June and all of its employees, approximately 100, were made redundant."
Local media reports have speculated that the closure was due to high fuel prices, but this has not been confirmed.
Mike Greene, a spokesman for the South Wales Hauliers' Association, says he fears A&M will not be the only company to suffer because of high fuel costs.