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Jobs go as Ramage buys United Freight
Page 6
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One United Freight Distribution depot shuts with 65 job losses; Ramage Distribution buys the rest of the firm. Roanna Avison reports.
THE HEMEL HEMPSTEAD depot of United Freight Distribution (UFD) is to close with the loss of 65 jobs, after the company went into administration and was subsequently acquired by Ramage Distribution.
Deloitte was appointed as administratoron Monday (16July) under a petition to the Court of Session, Edinburgh, by its directors.
UFD,which employed more than 330 staff, provided transport and distribution services and operated from a head office in Kirkcaldy and depots in Aberdeen. Bristol, Glasgow, Hemel Hempstead and Warrington.
Joint administrator John Reid says: "The company has been facing increasing financial difficulties and this has led to the directors concluding they could no longer continue to trade and seeking the appointment of administrators.
"Prior to the appointment of administrators, the company sought to sell its business and assets through a marketing process supported by its corporate finance professionaladvisers.This resulted in the company entering into discussions with Ramage Distribution with a view to it acquiring the business and assets of UFD."
Reid adds that the sale of UFD's business and assets relating to its head office in Kirkcaldy and all depots except Hemel Hempstead was also completed on Monday.
"Regrettably, the company's depot at Hemel Hempstead will close, with the loss of 65 jobs, after a managed wind-down of the operations there by the administrators. Had the company proceeded into formal insolvency without subsequently completing the sale to Ramage Distribution, its operations would have ceased within a matter of days with the resulting loss of all jobs," Reid says.
Financial details of the sale were not disclosed: UFD managing director Brian Kemp and operations director Derek Page will join the Ramage board.
Neil Cunningham, chairman and chief executive of Ramage Distribution, says: "For all the problems UFD has had with financial pressures recently, fundamentally its a good business. It has a very high standard of customer service, a good reputation in the market, a very good workforce and a good range of customers.
-We had been speaking on and off for months because we recognised that it could benefit us to bring both businesses together."
Cunningham confirms that Ramage did not buy UFD's Hemel Hempstead depot because the company already has a facility in the region.