Warrington haulier T&T Thompson has gone into administration with the loss of 38 jobs. Administrator Don Bailey of Begbies Traynor says the company had been losing money for some time. But it was the "11th hour withdrawal" of an unnamed haulier's bid to buy the company's assets which led to the director's decision to close.
"T&T just didn't charge enough for its services. It tried to reduce overheads and return vehicles to reduce costs but it was no good.
"It looked around for 12 months
to find a buyer of its assets and thought it had found one and that the jobs would be saved. But the haulier's bid just fell away. I don't know why," says Bailey.
He adds that by the time the company went into administration on May 19 "it was too late to find another buyer. I only wish that some of these companies would call us earlier than they do".
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