Haulage jobs lost as firm fails to find buyer

A HAULAGE firm which entered administration earlier this month has now made all 65 workers redundant.

Kirriemuir company AAD Transport initially continued to trade after entering administration.

Administrators from Begbies Traynor had hoped to find a buyer for the business as a going concern. However, despite a number of bids coming forward, a sale has not been agreed.

It is understood workers were informed yesterday was their last day of employment.

A statement from administrators Thomas McKay and Ken Pattullo said: “Over the course of the last few weeks, AAD Transport has been marketed for sale in the public domain by our agents to seek a buyer for the business and assets, and attempt to save the 65 employee jobs.

“Agents/administrators held negotiations with a number of closing date bidders. However, it was not possible for a sale to be completed due to some challenges within the existing business cost model.”

Employees have been advised on next steps while they focus on selling the company assets.

They continued: “Unfortunately, the company has ceased trading and our priority is to continue to provide all employees with all necessary assistance to advance their redundancy claims.

“We have also engaged with the department of Skills Development Scotland to ensure all employees have the required support available to them.

“The administrators and their agents are in the process of realising the company assets to maximise value for creditors of the company.

“The haulage sector continues to have challenges that are sector wide, including high fuel and related costs, often carrying legacy debt/tax arrears, while competition for new orders and work is fierce.

“The net impact is low profit margins which will inevitably impact on cash flow.”