North Rise offers loads
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in A former executive of failed clearing house Transworld and an ex-director of Eezee Euro Services, which took over Transworld's depots, are partners in a new company, North Rise Services.
The Nottingham-based company will offer loads to hauliers. Its founders are Glynn Lunn, who was with Transworld until its collapse (CM 23-29 May), and Roy Vernon, who resigned from Eezee Euro Services this month (CM 8-14 Aug).
At the time Vernon resigned, Eezee Euro had closed all nine depots it took over from Transworld, saying they were not economically viable. Eezee Euro says it now intends to run its own fleet.
Transworld owed more than Elm to 1,000 companies, mostly small hauliers. No payment has been made to unsecured credi tors and receiver Sorskys has told CM that Transworld's debtors are "doing everything in their power not to pay".
The Transport Users Group, which represents owner-operators, is pressing North Rise for a meeting in which it will seek assurances on payments to hauliers. Mike Pickering and Robert Sutton of TUG say they want to know details of North Rise's financial backing.
"Roy Vernon has told rue he will have some of the same customers as Eezee Euro and Transworld," says Sutton, "and hauliers are guaranteed payment, although he will not give a personal guarantee."
At Transworld's creditors' meeting in May the receiver said the company was "in breach of company law" because its accounts were unaudited. They revealed a loss of £100,000.
Small hauliers at the meeting owed as much as £18,000 feared for their homes and trucks. Central Trailer Rentco was owed £70,000 and had received a cheque for £9,000 which bounced.
CM was unable to contact North Rise Services before it went to press.