Shoreline enters liquidation after less than 18 months
Page 9
If you've noticed an error in this article please click here to report it so we can fix it.
By Chris Tindall CARDIFF HAULIER Shoreline Logistical Carriers has gone into liquidation less than 18 months after it was launched, leaving trade creditors owed in the region of £188,000.
Liquidator Gary Stones of insolvency practitioners Stones & Co, who was appointed on 29 July, anticipates there will not be a payout for unsecured creditors.
Stones also says that it was not possible to sell some or all of the business, which was only incorporated at Companies House in January 2010, as a going concern.
According to documents iled at Companies House, Vale of Glamorgan trailer rental business PADS Trailers is owed £2,000. Its operations manager Clive Booth says it had not been working for Shoreline for long before suspecting there were problems: “They were slow in paying and we were constantly chasing for money,” he says Another creditor is Fishguardbased WF Hall & Son, a haulage business that is also in liquidation. It is estimated to be owed around £2,800.
Shoreline holds a licence for 12 vehicles and 12 trailers.