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Shipman Haulage is up for sale

12th May 1994, Page 13
12th May 1994
Page 13
Page 13, 12th May 1994 — Shipman Haulage is up for sale
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Which of the following most accurately describes the problem?

• Joint administrative receivers at Leicester-based Shipman Haulage are confident they will be able to sell the 70-yearold business as a going concern. They are continuing to operate the company with its 38 trucks, 30 trailers and 70 staff. Since their appointment on Friday 29 April, Ernst & Young's insolvency practitioners Trevor Frid and Guy Baker have avoided making redundancies.

However shortly before they were called in 11 in-house drivers were made redundant from its customers' sites where Shipman had staff based in Halifax, Barnsley and Birmingham.

Frid says that he has already been approached by "unsolicited contacts" showing an interest in buying the familyowned business, which turns over 235,000-240,000 weekly. He blames Shipman's downfall on "historic losses". Frid and Baker are still evaluating exactly how many of the artics and flats are for sale. The freehold property, including offices, diesel bunkering and a vehicle maintenance area, is available.


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