Blue Water Transport sinks with huge debts
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• Scottish-based fish haulier Blue Water Transport has gone into receivership with debts of more than .€2m and the loss of more than 40 drivers' jobs.
Blue Water Transport UK was formed last February by Danish company Blue Water Shipping when it took over another failed company, Lowestoft Fish Transport.
It employed 93 people and ran its own fleet of around 40 vehicles from sites at Aberdeen and Glasgow.
Many subcontractors are owed thousands of pounds and some have been asked to continue working for a separate company Blue Water Shipping, carrying out work previously done by Blue Water Transport—this time on a seven-day payment basis.
One small haulier is working for Blue Water Shipping even though he is owed £47,000 by Blue Water.
He says: "I'm far from happy but I have no other option as there is no other work around. I've been in the business for 20 years and this has meant having to start from scratch all over again."
Ron McKenzie of R&M Chillspeed uses many of the same subcontractors as Blue Water Transport. He says: "Everybody was prepared to work for them because they were seen as a blue-chip company."
Receivers Grant Thornton were called in by management on 27 December 1995 due to trading losses, but are confident the infrastructure of business will be sold soon.
Grant Thornton can be contacted on 01473 221491.