MPS Heavy Haulage sold in pre-pack AN ESSEX HAULAGE firm
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that went into administration after HMRC attempted to wind it up (commercialmotoncom 31 May) has been sold in a prepack deal, saving 17 jobs.
MPS Heavy Haulage returned to profit in 2012, but administrator Philip Armstrong at FRP Advisory said it owed more than £440,000 to HMRC, dating back to 2009. However, before the company, which specialised in abnormal loads and breakdown recovery, could be wound up, it was sold to its general manager John Doyle for £25,000.
In a report to creditors, Armstrong said FRP was unable to identify any significant assets and, to all intents and purposes, Doyle was the business. Via his company, Cliffside Logistics, Doyle paid £24,000 for the firm's goodwill, plus £1,000 for fixtures, fittings and office furniture.
"Based on information available, the joint administrators think the company has insufficient property to enable a distribution to be made to unsecured creditors," Armstrong said.
Doyle did not respond.