Transport legend Edward Stobart says the failure of Boalloy Fastruck Bodies has personally cost him almost a million pounds, and that the court's decision to wind it up stems from a long-running argument with British Gas.
In an exclusive interview with Commercial Motor, Stobart says he sympathises with former staff that are angry over non-payment of redundancy and holiday pay, but that lawyers acting on behalf of British Gas stepped in before he could put the company into receivership.
Boalloy Fastruck Bodies is currently in compulsory liquidation, with a debt of £1.4m (CM 29 October). Stobart says the economic downturn led to a drop in orders for commercial body building, but that it was already in dispute with the energy supplier after it put the business on to an emergency rate when he first purchased it.
He says: "They were overcharging me. We just refused to pay the bill. They were way in excess - four times greater than they should have been."
He explains he had lined up a company to help put the business into receivership, but British Gas' successful petition in the Royal Courts of Justice scuppered his plans. Stobart also says he will continue to sell Boalloy parts and spares under his Boalloy Industries company.
He adds: "If it makes [ex-employees] feel any better, the biggest loser was myself. You reported that there is a £1.4m debt, well two-thirds of that is my debt. I sympathise with them, but there was nothing else we could do. It's sad for everyone."
The Tribunals Service says employment tribunals lined up to handle claims from ex-staff members over outstanding payments have been postponed for now.
Sharon Barlow, who says she is owed seven weeks' pay, says: "I am not going to let it drop. I will try to get the money I am owed, because I am owed it."
British Gas did not respond.
An investigation into Boalloy Fastruck Bodies follows shortly.
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