Contract loss spells end
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m by Dominic Perry
Manchester haulier WP Twibell & Sons has put itself into administration following the loss of a major contract.
The Trafford Park-based firm has been operating since 1927; in its heyday it ran 65 trucks with a turnover of 16.5m.
However, earlier this year its biggest customer, cosmetics giant Proctor & Gamble, accounting for 60% of its turnover, ended its contract. The work is now being handled by local rival James Ham & Sons.
Director Chris Twibell says closure was the only option: "We came to the conclusion that the longer we tried to wind down the firm the less there would be left at the end. So we made the decision to call in the administrators."
The company had worked for Proctor & Gamble for more than 40 years—Twibell says that the contract loss came out of the blue: "They have made a commercial decision, but it could have been done much better and we could have been Oven a chance to react to it. It's a great shame that they didn't even approach me to see if I could match other quotes."
More than 100 employees have been laid off including 80 drivers, most of whom have found alternative employment.
Neil Henry from administrators Lyons Henry says that once the company's assets are realised there should be a substantial dividend for creditors. However, he adds that one subcontractor is owed about £20,000 and may stru le to survive.
Proctor & Gamble declined to comment on the matter.