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184 
Fuel hikes help finish
Page 5
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another major fleet
HEAVY TRANSPORT firm Range International Haulage has gone into voluntary liquidation citing rising fuel prices and the loss of a major contract.
The North London-based firm called in liquidators Harris Lipman last Friday.
Senior partner Barry Lewis says that around 100 people have been made redundant and a creditors' meeting will take place on 18 June. "The total amount that the firm owes has not been added up yet," he reports. "But it amounts to several tens of thousands of pounds. The firm's demise is largely due to a big loss on a major contract and the general cost of fuel and maintenance of its fleet." Earl Attlee, president of the Heavy Transport Association, says it is sad to see an established operator go into administration: "It's a big surprise. It's likely to be all to do with rates, which are just not high enough. I am always
amazed at how little people charge for their expertise to move a load given the capital costs and what can go wrong. It looks like Range paid the price for this." Range had a £6m annual turnover, which had grown 13% on the previous year. But as David Patti
son, senior analyst at industry analysts Plimsoll Publishing, notes, the firm was operating on a low profit margin: "While it made a profit this was absorbed by the interest payments on its debt."
Range International declined to comment as CM went to press.