Maguire staff axed after business foLds
25th February 2010, Page 8
25th February 2010
Page 8
Page 8, 25th February 2010
— Maguire staff axed after business foLds
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Keywords :
Haulage, Business / Finance
CONTAINER HAULIER Maguire Trading has been forced to call in administrators because of rising fuel costs and customers not paying their invoices on time.
The Knowsley, Liverpool-based family firm appointed Milner Boardman & Partners as administrator on 11 February. All 11 staff were made redundant, of which nine were HGV drivers.
Joint administrator Darren Brookes tells CM: "The reason for the business failing was rising fuel costs combined with a lack of funding and little help from the bank. There was also the issue of customers taking longer to pay, which left the firm in a had position."
Although the administrator would not give a precise total of how much is owed to creditors, Brookes did, however, reveal that it is a sixfigure sum.