Haulage firm went under owing over £5m

A Leicestershire haulage firm went into administration owing over £5m to creditors, new documents have revealed.

Alvarez & Marsal were called in to £12m-turnover S&J European Haulage, which has its headquarters at Asfordby Business Park in Melton Mowbray on March 26.

New documents filed by administrators at Companies House show that various funders, who have charges over various assets of the S&J are owned almost £1.7m.

Trade creditors include Irish firm McBurney Transport, which is owed almost £160,000 and Travis Perkins, which is owed over £190,000.

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.