Fern fails to find buyer and calls in receivers
Page 11
If you've noticed an error in this article please click here to report it so we can fix it.
• Fern Tankers, one of the UK's largest independent bulk chemical hauliers, has called in administrative receivers after failing to find a buyer this year.
The Morley-based business is still trading with its workforce of around 180 and administrative receiver Grant Thornton is optimistic about selling the business as a going concern. There are no plans to make any of the staff redundant at Fern Tankers or at its sister repair business, which employs around 20.
The repair business, Hartlepool-based Cleveland Truck and Van Centre, is also in administrative receivership and for sale.
Joint administrative receiver Mike Saville says a number of potential buyers have shown interest in buying Fern Tankers, which operates 116 trucks and 135 tankers: "We are hopeful that a rapid sale may be achieved. Negotiations are in process to sell the business as a going concern."
Directors of Fern Transport called in Grant Thornton because of financial difficulties. They bought the business in a management buyout from Castleford-based chemical manufacturer The Lambson Group four years ago. Fern 'rankers and Cleveland Truck and Van Centre have a combined turnover of about £14m.
If you are interested in the business contact Mike Saville or Peter Flesher on (0113) 245 5514.