Gloucestershire firm BH Freight in administration following losses
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GLOUCESTERSHIRE haulier BH Freight has gone into administration with sister firm Select International Transport apparently taking on a large proportion of its work.
Stephen Ramsbottom and David Rolph from corporate recovery firm Moore Stephens were appointed to the company on 24 May.
Although BH Freight has been running since 1983, the last year saw serious losses at the haulier and a warning in its last set 01 accounts that a "material uncertainty exists casting doubt upon the company's ability to continue as a going concern".
The accounts show that in the year to 31 May 2009 it made a pretax loss of £50,061 on turnover that fell hy i1.2m to f6.1m, although in part this was due to an exceptional item of £106,544 relating to a loss on the sale of fixed assets.
The report states: "A major contract came to an end... and the current economic condi t ions create uncertainty over the replacement of this contract and therehire the
ability (A the company to continue as a going concern."
However, it said it was confident of returning to profitability.
Select International Transport's accounts show that during the year to 31 January 2010 it bought trucks worth 1:158,500 from BH Freight.
Select was only granted an 0-licence in May this year following a Pl. It has since applied to add more vehicles to its current nine-truck licence.
Director of both businesses, Ronald Hogben, was unavailable to comment.