JB in administration
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A DONCASTER haulage firm has been placed into administration, resulting in the loss of 11 jobs.
Insolvency practitioners from Leonard Curtis were appointed to JB Osborne & Son (Haulage) on 3 October after cashflow problems blighted the firm's trading activities.
Boss Chris Osborne said problems stemmed from a decision to purchase lorries at the beginning of the year in anticipation of extra work on an existing contract.
He said the company — authorised to run 15 LGVs — switched factoring firms after it struck a deal with Skipton Business Finance on a £20,000 loan.
However, its cashflow issues continued and led to Skipton, which Osborne said is also a debenture holder, pulling the plug. "I bought too many lorries in one go," he added.
"I was offered more work pulling trailers on good rates. I put them on the road and hit a funding cap."
Skipton MD Greg Bell declined to comment on the administration.