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Firm owed nearly El .5m PETER COOK Transport, the Durham
Page 19
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firm that went into administration in August, owes creditors almost £1.5m.
Escalating fuel and insurance costs, as well as growing competition from Eastern European operators, was blamed for the downfall of the 22-year old haulage and warehousing company.
A report from a recent creditors' meeting shows the company was wound up with debts of £1.616m. The administrator, Tait Walker chartered accountants, would not comment on how the debts had accumulated.
An 1 I -page list of creditors includes several ferry firms: P&O is owed more than £13,732; DFDS Tor Line .£23,000 and the Channel Tunnel just over 01,000. Hauliers have also been hit by the collapse: Newcastle firm Simpson Brothers is owed around £2,000; and Conseil operator Elddisi29,000.
Peter Cook Transport traded from Belmont. County Durham.