Redundancies as haulage firm enters administration

A haulage company in Nottinghamshire has gone into administration after 50 years of trading, with the majority of its staff made redundant.

B Taylor & Sons Transport Limited, based in Sutton-in-Ashfield, filed a notice of intent on Friday, with Benjamin Peterson and Danny Dartnaill of accountancy firm BDO confirmed as joint administrators on Monday.

The company, founded in 1974, has ceased trading with "immediate effect", BDO said.

In a statement, the administrators said B Taylor & Sons had been "negatively impacted by sector-wide issues", including reduced demand and cost inflation.

The haulage firm, which had 91 employees, had provided logistics and storage solutions services across the UK and international freight services.

BDO confirmed a small number of staff had been retained initially to assist the administrators.

Mr Peterson, BDO business restructuring partner, said: "Unfavourable market conditions have led to unsustainable commercial losses and, unfortunately, it has not been possible to secure a future for the company.

"As joint administrators, we will be taking the necessary steps to maximise returns for the benefit of all creditors in accordance with our legal duties."

B Taylor & Sons Transport Limited has been contacted for comment.

Follow BBC Nottingham on Facebook, on X, or on Instagram. Send your story ideas to [email protected] or via WhatsApp on 0808 100 2210.