Administrators called in to £12m haulage firm

Administrators have been appointed to a £12m Leicestershire haulage firm which has spent much of the last six weeks fighting for its future.

Alvarez & Marsal were called in to S&J European Haulage, which has its headquarters at Asfordby Business Park in Melton Mowbray on March 26.

On March 20, S&J filed a third notice of intention to appointment administrators (NOI) through law firm Browne Jacobson. It followed an initial NOI on February 23 and a second on March 6.

S&J is a member of the Palletline network of companies.

In its latest available accounts, made up to the year ending November 30 2022, the firm turned over £12.6m – up from £12.2m a year previously, while profit before tax fell slightly to £181,833. At the time, the company employed around 80 people.

In the accounts, directors noted the threat to the economy from Brexit, Covid and the Russian invasion of Ukraine.