Trucks Ltd collapses due to lack of landfills
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By Hayley Pink WASTE HAULAGE irm Trucks Ltd has entered into administration after inancial dificulties arising from a lack of local landill sites.
Fareham, Hampshire-based Trucks Ltd, which holds three O-licences with authorisation for 76 vehicles and one trailer, appointed joint administrators Michael Field and Carl Faulds from Portland Business & Financial Solutions, on 29 November.
Field tells CM the irm had experienced dificulties in disposing of waste products locally, as all the sites it held contracts with were full up. It was forced to travel further aield to dispose of waste, therefore racking up costs from extra mileage and time each vehicle would need to spend on the road, which it was unable to sustain.
He adds that the problems faced by Trucks Ltd are a knock-on effect from the slump in the construction sector, which in turn has led to fewer quarries needing illing in the local area; a more prominent issue for businesses located on the South coast, such as Trucks Ltd, as half of the surrounding area is sea, limiting the options further.
The administrators are now in the process of realising the company’s assets.
It is unclear at this stage whether unsecured creditors are likely to receive any money.
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