Administrators appointed to Elite Transport

HAULIER Elite Transport Services has gone into administration two months after lining up a £3m factoring deal with Bibby Financial Services.

Manchester-based Elite refinanced with Bibby after its previous lender withdrew credit.

In December the £18m turnover business was forced to close depots in Southampton and Felixstowe due to falling demand.

At the time majority shareholder David White told the Southern Daily Echo that trade at Southampton had fallen by 8% a year since 2010.

The Bibby package was designed to increase cashflow and relieve creditor pressure. Mr White owns the business along with Gary Bethel. Accountancy firm Leonard Curtis was appointed administrator on May 8. No one could be reached for comment.