Swindon logistics firm forced to call in the administrators
A Swindon logistics firm which was formed just over seven years ago has called in the administrators.
OPX Logistics is based at Ignition Park in Swindon.
The company last filed reports with companies house at the start of the year.
It said the previous 12 months had been challenging as a result of the covid pandemic and a period of significant growth in the business.
The company provides commercial haulage services to a range of retailers.
The report added that wider economic factors and increased cost pressures created challenges for the industry.
It said “At the start of 2022, as part of an ongoing strategy to build additional revenue streams, the company invested in new group venture – O’PX Distribution Ltd’, which provides storage and fulfilment services.
“OPX Distribution is now generating revenues and the directors are optimistic about its potential to grow revenue from both existing customers, as well as new business opportunities.
“The principal risk facing the company is price risk as a result of its operations in the haulage sector, with the price of fuel being of primary significance.
“The company mitigates this risk through forward planning and the continual review of preferred suppliers.
“The directors remain very optimistic about the company’s prospects. Continued improvements to the business have resulted in record turnover for OPX Logistics Ltd in 2023.
“The company has increased its client portfolio, gaining new business in additional sectors that are more resilient to economic changes.
“This helps mitigate the risks of any downturns in the UK economy. Our strong client base of national and international supermarkets, retailers and third party order fulfilment give the business a resilient market position.
“The company will continue to invest in staffing, systems, and new software to help drive efficiency and enable better cost controls to increase profitability.”
