Bulmers collapses two years after pre-pack
Page 4
If you've noticed an error in this article please click here to report it so we can fix it.
christopher.walton@rbi.co.uk BULMERS TRANSPORT, the pre-pack administration successor to Bulmers Logistics, is set to close after a meeting was held last week (Friday 4 February) where all staff were told they would lose their jobs.
Director Johnathan Bulmer (right), who had provided a personal guarantee against an invoice discounting overdraft of £2.37m secured against the trade debtors and assets of the company – as well as leading the pre-pack administration deal in January 2009 – was not available to comment on the details of the meeting.
However, CM understands that Bulmers has suffered inancially following the collapse of one of its customers.
In a further development, Steve Ward, MD of Ward Bros (Malton), says he has taken on the running of day-to-day operations of certain customers’ contracts where the two irms had an overlap.
Ward has offered jobs to about 70 staff from Bulmers Transport and taken on around 40% of Bulmers’ leet, some 60 vehicles.
Ward says: “I have sympathy with the drivers that we could not ind a position for. This is not a nice thing to happen so soon after Christmas.” He explains that some of the contracts Ward Bros have taken on include Bulmers Transport customers that have not previously worked with Ward, but that have asked the company to step in.
“These are new employees [for Ward Bros]; we are not taking the business over; and the business we have taken on is much less than 50% of [Bulmers Transport] total business,” Ward states.
Meanwhile, Bulmers Transport’s results for the year-ending 30 November 2009 have been published at Companies House, six months later than scheduled.
For the 11-month period to 30 November 2009, the company had a turnover of £16.8m but made a pre-tax loss of £7,333.
It also had creditor debts falling within one year of £6.3m and net liabilities of £2m.