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Subbies left reeling as TL collapses into receivership
Page 4
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• by Dominic Perry Dozens of subcontractors have been left reefing following the collapse of container transport firm Transport Services Plc (MD.
Sonic, who may now face the prospect of hitting the wall themselves, are asking why they were given no warning. They claim that they were given assurances that despite a small cashilow problem there was no danger of the company ceasing trading.
However, almost two weeks prior to the receivership 1St sold off a number of trucks and subcontractors to Felixstowe firm Hanbury Davies. In fact one subbie, who wishes to remain anonymous, says that TSL director Glyn Hockey warned him on 29 July not to work for the firm anymore, saying it would be in his best interests to move both his trucks across to Hanbury Davies. However Hockey says that this was Purely to simplify accounting so that he did not have to invoice both firms.
Now the other subcontractors want to know why they were kept in the dark for at least a week, with TSt running up bills of up to 110,000 with some of them.
One subcontractor, whose two trucks had been working for TSL for around three years and alleges he is owed £7,000 by therm says: "We've given them absolute and total loyalty, yet no-one rang us or asked if we wanted to carry on working for them. They could at least have written to us saying they were having problems. It's left as in such a mess that we are going under. We are looking to sell the trucks and get out of haulage."
Another blasts: "It annoys me that me and my husband can work so hard at building up a business and then these people can come along and do this to us."
Even a TSL insider describes the receivership as "shambofic". He says staff received assurances that there was no chance the firm would cease trading, despite a warning on 2 August that no further work should be given out He adds: The first time we knew that anything was up was when our company phones went off without warning and all the computers in the office closed down. "They didn't have the decency to tell the outlying offices what went wrong. I only found out on Thursday evening ER August] after phoning them all day."
Ian Wilson, managing director at Hanbury Davies, says rumours had been circulating about TSL's finances since April. He adds: "The container market is hard work with low margins and there are revenue pressures that people are not facing up to."
Transport Services had depots in Felixstowe. Leeds, Southampton, Birmingham, Coatbridge and Liverpool. It is estimated that around 50 subcontractors have been affected by its collapse.
Russell Winmill, one of TSL's directors and the main shareholder, was previously a director of Cambridge-based Brain Haulage which went into liquidation in 1993.
TSL's receivership comes hot on the heels of the collapse of East Anglian container haulier Trans-Port UK which ceased trading following the liquidation of its parent company Wilt Group (CA110-24 July).
• A statement from receivers PKF reads: "Container transport company Transport Services plc ceased trading on 2 August 2002 and entered into administrative receivership with the appointment of joint administrative receivers, Fred Satow and Philip Long of PKF, on 7 August. The depots have been closed and the majority of staff have been made redundant, although 18 remain on the payroll. There has been a controlled return of third party assets. Agents have been appointed to value the remaining assets of the company. The situation regarding subcontractors is currently under review in order to establish the exact nature of the relationship between Transport Services and each party involved."