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Petch blames its demise on low rates
Page 17
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ALEC FETCH Transport, the Yorkshire container haulier that closed at the end of February (CM 23 February), says its problems were caused by low rates rather than lack of work.
Norman Petch, one of three sons of the founder who ran the company, explains: The decision was dictated by the bank, but it wasn't a question of there not being enough work — it was just that nobody was prepared to pay a decent rate. We were just being busy fools."
All 33 staff at the firm have now been laid off.
Administrator Chris Brooksbank, a partner at O'Hara & Co, says: "To the lads' credit they chose not to muddle through in the vain hope of continuing. They decided that they couldn't make sufficient money and called it a day immediately."
Brooksbank adds that there were 11th-hour discussions with another company over a potential takeover, but talks broke down and closure then became inevitable.