Deben Transport Limited
The Company’s head office was in Felixstowe and it operated out of 7 other sites throughout the country employing 224 people.
The Company had seen a decline in its turnover from approximately £30m at it’s height but had recorded losses in the last two years of trading.
Management had attempted to put in place a recovery plan and had recently taken cost cutting measures in an effort to turn the business around but it become apparent that ongoing losses meant that the Company could not meet its commitments to creditors and the Director had to take the decision to place the Company in to Administration.
Once the financial position became apparent there was no option other than to cease trading immediately.
Efforts were made to assign certain of the Company’s contracts but this proved not to be possible and regrettably the majority of the workforce had to be made redundant once Administration was inevitable.
The Joint Administrators are currently working to realise the Company assets but it is too early at this stage to predict what the financial outcome for creditors will be.