Administrators appointed to M&J Haulage Limited | KPMG | UK

Administrators appointed to M&J Haulage Limited

Administrators appointed to M&J Haulage Limited

Chris Pole and Mark Orton from KPMG have been appointed joint administrators to M&J Haulage Limited, a sugar beet handling company based in Snelland, Lincolnshire.

1000

Also on KPMG.com

The company, which employs 24 people and a number of subcontractors, operates as an agricultural contracting business, specialising in the cultivation of sugar beet and other arable crops. The company grows its own crops whilst also providing contract farming and haulage services to other customers in the East Midlands.

The company had been impacted by reduced contract volumes leading to a material downturn in profitability and subsequent cash flow issues. With growing creditor pressure, the inability to obtain further funding and in the absence of any committed increase in long-term orders, it was deemed that a viable business no longer existed. Operations on site have been suspended and all employees have been sent home while the joint administrators assess the options available.

Chris Pole, partner at KPMG and joint administrator, explained: “The company had recently seen a decline in its order book, which led to significant pressure on its cashflow. Over the coming days, we will be assessing options for the business, including the possibility of resuming operations, while we explore a sale of the business and its assets.

Interested parties are advised to contact the joint administrators as soon as possible via Gareth Shaw on 0121 232 3288.

 

ENDS

 

For media queries only, please contact:

Katy Broomhead, Senior PR Manager

T : 0161 246 4623

M : 07824 537963

E  : katy.broomhead@kpmg.co.uk

 

KPMG Press office:

T : +44 (0) 20 7694 8773

 

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 13,500 partners and staff. The UK firm recorded a revenue of £2.07 billion in the year ended 30 September 2016. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

Connect with us

 

Request for proposal

 

Submit