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Sierra collapse puts pressure on family firm

14th November 1991
Page 12
Page 12, 14th November 1991 — Sierra collapse puts pressure on family firm
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Which of the following most accurately describes the problem?

• A family haulage business with three vehicles claims it is owed £13,000 by collapsed clearing house Sierra Freight — the subject of a creditors' meeting next week in Manchester.

Durham haulier LS Davis has not been paid for work since June and director Penny Bussey says the debt has "put a strain on the business", although she is confident it will be overcome.

New company Eurobase International has begun trading at Sierra Freight's Trafford Park, Manchester address.

Bussey says her company received loads from Italian operator Base International on behalf of Sierra Freight. On 14 October Sierra wrote to say it planned to change its name to Eurobase International. Shortly afterwards Sierra ceased trading.

According to Bussey, Eurobase lists its managing director as Chris Silcock — no other directors are named on the company letterhead. Sierra Freight's stationery lists its directors as John Groves, managing director; DM Groves; RG Davis, company secretary; and RA Beecroft.

Creditors will learn the extent of Sierra's debts at a meeting on 20 November at the Manchester office of receiver Grant Thornton.


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