RHA withdraws
Page 9
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A LAST-MINUTE decision by the Road Haulage Association to drop its opposition has led to the grant of a new standard national licence to Phoenix Shipping Ltd of Bristol, a company formed by the directors of NHT Shipping Ltd, which went into voluntary liquidation in April.
Phoenix had applied for a ing in July following a request licence for two vehicles and four by the RHA for further financial trailers and the Western information about both Phoenix
Licensing Authority, Maj Gen Sir and NHT.
John Potter, adjourned the hear The Association had objected on the grounds that the maintenance of the vehicle was likely to be prejudiced by a lack of financial resources. The applicant indicated that they were willing to provide any documentary evidence that the objectors required.
After being informed of the Association's withdrawal at a Bristol public enquiry on November 25, Sir John said that he would still require financial questions to be answered despite the absence of objection.
Ian Harrison, a managing director of Phoenix and former managing director of NHT said Phoenix had been formed following the liquidation with a paid up capital of £100.
It had been trading for eight months with one vehicle on interim licence and he was able to produce figures prepared by the company's accounts. Phoenix had facilities for a substantial bank overdraft but so far had not had any occasion to make use of it.
Three people were employed and 70 per cent of NHT's customers were now trading with Phoenix. These were people who knew him personally and were aware of the problems he had had and they had the confidence to continue trading with him. Questioned about the collapse of NHT, Mr Harrison said it had been forced into liquidation by the loss of £40,000 on the handling of a consignment of Egyptian potatoes together with the general decline in trade. He felt that NHT who had been freight forwarders had grown too quickly pushing itself beyond the limits of efficient cash flow control.
As far as Phoenix was concerned there was more money owing to the company than it owed. He was perfectly happy with the state of its affairs at present although he was aware that some of the company's customers had cash flow difficulties of • their own.