Receiver called in by Connor Freight
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by Ian Wylie Tough trading conditions have forced one of Northern Ireland's largest hauliers, Connor Freight, into administrative receivership.
Director Francis McMillan has instructed his bank to appoint Grant Thornton in Belfast as receiver for his general haulage company, which specialises in movements across the Irish Sea.
The 10-year-old TemplePatrick company employed 40 staff with a fleet of some 50 tractors and 100 trailers.
Local auctioneer Wilsons Auctions is awaiting instruction to begin disposing of some of the vehicles; a number of trailers are believed to have been impounded by ferry companies awaiting payment.
According to Grant Thornton's Mark Allen, stiff competi tion and the rise in diesel prices contributed to McMillan's decision. Grant Thornton says it is keen to find a buyer for the business, but admits that initial discussions with potential bidders have come to nothing.
The receiver is currently preparing information for creditors, who are likely to be called to a meeting within the next month. One driver told 014 that he is owed 0,500, adding that he has spoken to a fuel supplier which claims it is owed more than £27,000.
Connor Freight is not the only haulier in Northern Ireland to have buckled under the pressure of rising costs this year. Next month Wilsons Auctions will hold a sale of more than 100 vehicles from County Tyrone's Omagh Freight after owner Pat Kelly decided to wind up the business.