Administrators appointed to logistics firm after loss of key contract

Administrators have been appointed to a logistics company with two bases, in Lancashire and Cheshire.

TVR Express was founded in November 2015.

It has sites in Leyland and Winsford, and reported a turnover of £2.5m at the height of the pandemic.

The business employs four people and is supported by a network of subcontractors.

Business advisory firm, Quantuma, said that, after losing a large contract with Amazon, TVR was unable to sustain its business operations with its smaller contracts with other logistical companies alone.

All four staff members will be made redundant as a result of the administration, and ongoing contracts with its subcontractors will be terminated.

The business will also have to close its two sites.

Rehan Ahmed and Tauseef Rashid of Quantuma, were appointed as joint administrators of TVR Express Limited on February 21.

Rehan Ahmed, managing director at Quantuma, said: “The last few months have been demanding for those working in the logistics industry and TVR is no exception.

“The loss of a major contract has, unfortunately, resulted in staff being made redundant and the business having to close its doors.

“We will now seek to secure the best outcome for TVR’s stakeholders and partners.”