Palletways member Andover Transport has gone into administration two years after a management buy-out.
The Hampshire-based firm, which ran 15 vehicles and 15 trailers, appointed joint administrators Kelly Burton and Claire Foster, both of Wilson Field on 28 January.
Director Jason Horner acquired the company from previous owner, the TrimTruk Group, in a management buyout in February 2011. Former transport manager Horner bought the company for an undisclosed sum after receiving financial backing from the Royal Bank of Scotland, Natwest and a government Enterprise Finance Guarantee.
It signed a 10 year contract with Palletways in 2009, covering the SO postcodes around Southampton. In 2011 it expanded its pallet network operations and took on the SP postcodes around Salisbury when Andover haulier 303 Group went into administration.
A Palletways spokeswoman said: "Andover Transport’s collections and deliveries have been reallocated to neighbouring members of the Palletways network to guarantee 100% continuation of service, which is in line with our operational strategy when these situations arise. Eaton Transport has primarily taken over the postcode areas with support from other members."
Horner was unavailable for comment.