Coal loss puts JM on market
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by Karen Miles • The future of Derbyshire operator JM Transport hangs in the balance this week as its receivers search for a buyer.
Around 35 drivers, eight workshop staff and the company's two directors are hoping that an estimated 50 inquiries from potential buyers to the receivers KPMG will produce a new owner for the Alfretonbased firm.
The company went into administrative receivership after its major customer, RJB Mining, ended its relationship with the company for the internal movement of coal at two of its mines in Warwickshire and Notting-hamshire.
JM Transport managing director Michael North says RJB gave only four days notice to quit, causing the bank to withdraw its overdraft facility.
RJB, which is Britain's largest mining organisation, says that it adhered to its contract notice terms when it replaced JM Transport's 10 tippers with its own trucks.
The move caused JM Transport to withdraw seven more trucks on shunting work at two other RJB collieries.
Overall, RJB accounted for around a third of JM Transport's business.
The operator retains its L150,000-a-month contract with concrete beam producer Richard Lees; so far there have not been any redundancies.
North and two other directors set up JM Transport nearly four years ago when they bought it from the receivers of National Plant and Transport.
British Coal, which was sold to RJB, was National Plant and Transport's major customer.