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Credit to blame for haulier's fall
Page 7
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AL use of credit cards, bad debts, the temporary loss of an ators licence, and various court fines and legal fees have canted to the bankruptcy of a Norfolk haulage company.
g's Lynn Bankruptcy Court d that Alfred Charles Timbbecame self-employed in put down a deposit on a , and used the vehicle to out a contract for a former tloyer. Mr Timbers claims he is still owed £1,600 for iob.
the autumn of 1976 he went partnership with a Mr R. Fish and formed F and T Transport. The companv completed some Continental contracts worth more than £20,000 but there were problems and the partnership was disolved.
Mr Timbers continued to trade on his own and by the end of 1978 had three or four lorries. Business at this time was profitable, but problems started again when one of his drivers "disappeared" with one of Timbers' vehicles and worked for someone else.
The driver continued to buy dery illegally with the credit card provided by his employer, and the lorry was later found abandoned. But in 1979 there were problems with the Inland Revenue over the company's employees, there was also further abuse of agency credit facilities.
By the end of 1979 the vehicle fleet was cut to two which, it was hoped, would be easier to manage, but Mr Timbers lost his Operators licence for four months last year. He consequently hired one of his vehicles, but claimed that he received no payment in return.
In all Mr Timbers estimates that £15,500 had been appropriated from the business by various parties.
Saying that he had received training in management skills, Mr Timbers denied that the failure of his business was due to mismanagement.