Restructuring firm appointed as joint administrators at haulage group
Manchester restructuring firm, CG Revovery, has been appointed administrators of a Midlands haulage business.
The Haulage Group, which is based in Sutton Coldfield, has appointed Edward M Avery-Gee, Daniel Richardson and Nick Brierley, of CG, as joint administrators
Family-owned, the logistics firm was founded in 1960 and employs approximately 15 staff. It has operating licences for 70 trucks and 70 trailers.
A subsidiary, Maybrook Fleet Care, offers full vehicle maintenance, from small vans to HGV traction/trailers, with pre-MOT test facilities, 24 hour emergency breakdown and repair services.
The business changed its name from Howell Group, in December 2021.
Last year the Haulage Group was prosecuted by the Health & Safety Executive following the death of an employee at a site it owned in Birmingham.
Turners (Soham) was a tenant of the Haulage Group and both companies were prosecuted, which resulted in a combined total fine of £2.2m.
Turners (Soham) depot manager, Neil Roberts, 60, died when he was hit by a truck on August 30, 2019.
Following the prosecution, Turners (Soham) pleaded guilty to breaching the Health and Safety at Work Act and was fined £1.9m and ordered to pay costs of £7,300.
The Haulage Group also pleaded guilty to breaching the same Act and was fined £300,000 and ordered to pay costs of £7,300.
In The Haulage Group’s latest filing at Companies House for the unaudited unabridged accounts to May 31, 2023, the report showed the company had total net assets of £2.185m, compared with £3.266m the previous year.
The document said the directors had chosen to not file a copy of the company’s profit and loss account.
The document also revealed that, on January 8, 2024, Envigen Ltd, a business for which The Haulage Group is a guarantor on a loan made to Envigen Ltd, was put into liquidition.
The note said: “At the date of the liquidation the outstanding loan balance was £1,272,524. At balance sheet date the company had given a cross-company guarantee in respect of a secured loan made to Envigen Ltd by a lender to fund the acquisition of a material recycling plant.
“At the balance sheet date the outstanding loan balance was £1,283,812. Whilst the loan is primarily secured by a charge over the recycling plant, there is a possibility the lender may require the company to repay the loan in part or whole in the event of a payment default by Envigen Ltd.
“The lender has indicated that, in the event that it required the company to honour the guarantee, it would be permitted to do so in accordance with the original loan repayment terms.”
When contacted by TheBusinessDesk.com, both The Haulage Group and CG Recovery said no-one was available for comment.
