Will Wright and Mark Orton of KPMG’s Restructuring practice were appointed joint administrators of T.Baden Hardstaff Limited (trading as Hardstaff Haulage) & Hardstaff Commercial Repairs Limited (trading as Charnwood Truck Services) on 6 February 2015. The Nottinghamshire based business dates back to 1861 and specialises in road haulage services and fleet maintenance for commercial vehicles. The Group also operates the Portal Gas Services division which provides the supply of wholesale gas and has developed Oil Ignition Gas Injection dual fuel technology for commercial vehicles.
The companies employed 232 members of staff and following the appointment of administrators, 180 people were made redundant. The remaining 52 individuals are currently assisting the administrators.
Will Wright, restructuring partner at KPMG in the UK and joint administrator, said:“The challenging trading conditions and changing dynamics in the market ultimately led to the businesses being placed in administration. Unfortunately, following a review of the position and the difficulties with continuing to trade, we have had to take the difficult decision to make 180 staff redundant. The remaining employees are supporting us whilst we explore a possible sale of parts of the businesses. Our team of employment specialists will be supporting all redundant staff on completing redundancy forms and putting them in touch with job seeker services. The Hardstaff Traffic Barrier Services business is not in administration, continues to trade as normal and we hope to find a buyer for it.”
The joint administrators will provide further updates as the case progresses.
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