Creditors set to miss out on over £1m after collapse of haulage firm
A Nottinghamshire-based logistics firm which had been trading for more than 90 years is unlikely to be able to pay back over £1m it owed to creditors when it called in administrators at the beginning of February.
Lee Lockwood and James Miller of RSM Restructuring Advisory were appointed joint administrators to H Beardsley on February 4.
Due to a combination of increased fuel and property costs and staff retention challenges, the directors took the decision to cease trading. The company made all 32 staff redundant prior to the appointment of administrators.
Documents seen by TheBusinessDesk.com show that Huthwaite-based H Beardsley owed almost £1.1m to unsecured creditors when it fell into administration, while the firm’s one secured creditor, Close Brothers, would see a shortfall of £913,370.
Following the appointment of RSM, administrators secured the sale of the company’s assets together with a licence to occupy the company’s leasehold site at Huthwaite to Taylor & Sons Transport.
