GH Martin forced into administration
Page 8
If you've noticed an error in this article please click here to report it so we can fix it.
By Hayley Pink WILTSHIRE HAULIER GH Martin & Son has entered administration after nearly 80 years in business, citing a combination of rising industry costs and squeezed proit margins for its demise.
The company appointed administrators Timothy Ball and Robert Adamson from Mazars LLP on 8 February.
David Martin, the MD of the Corsham-based family business, says increasing industry legislation, and its associated costs to hauliers, along with record fuel prices has made running a transport business “not a viable proposition” .
Martin says the irm had to invest a substantial amount in new vehicles to comply with the London Low Emission Zone, which requires a minimum Euro-4 emission standard as the irm operated in the capital.
He adds that customers are also unwilling to pay realistic rates for jobs, meaning there is “not enough proit in the job for the costs involved” . In unaudited accounts submitted to Companies House for the year ended 31 March 2011, GH Martin posted a turnover of £1.52m and a pre-tax loss of £111,139.
The company holds an O-licence for 22 vehicles and 24 trailers across two sites in Corsham and employed 25 staff, who were all made redundant when the company entered administration.
As CM went to press, an auction was taking place to sell 30 of the company’s leet of tractor units, latbed lorries and dropside rigids.
The administrators were unavailable for comment.