Falling like dominoes
Page 2
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If the start of a new year signifies one thing in haulage, it’s a run of company failures. Liquidations and administrations usually follow as soon as people wind down from the Christmas peak. I was under the illusion that the first weeks of the year have been quiet on that front, but a quick bit of research shows that I was wrong – these are still tough times. Macaskill Haulage is being wound up; Oxford Logistics has been saved by Palletways after being placed into
voluntary liquidation; and Welsh family haulier Shillibier is to be liquidated.
And it doesn’t end there. Nottingham’s Clearway Distribution has been reborn as B2B Logistics after the existing management bought it out of administration (see page 6). What’s more surprising is that Clearway has been saved and not left to fail. It had been running under a corporate voluntary agreement since December 2009, with its creditors deferring on just over £2m of debt, but the sale to the existing management will come as a relief to the haulier’s 55 employees. Touch wood, but so far we’ve not had a failure on the same level as F Swain or Joseph Rice – but you wouldn’t bet the house on it yet.
Cautious optimism is the catchphrase for 2012. Haulage businesses want growth or, failing that, a year of steady trading – but the warning signs are out there that this is still uncertain.
● This week we start our monthly series of Crimewatch features. We’re working with TruckPol to keep you out of Britain’s HGV crime hotspots and help recover stolen vehicles and goods.
Christopher Walton