G Lashly General Haulage has gone into voluntary liquidation owing to the pressure of maintenance costs and a decline in its primary construction transportation work.
Carl Faulds and James Tickell of Portland Business & Financial Solutions were appointed as joint liquidators of the Southbourne, Hampshire-based firm on 23 April.
According to the administrators statement of affairs, the family-run business left a deficiency of £382,270; it had debts totalling £530,324; but available assets of just £229,954.
Steve Godwin, director at Portland, says: "The main business at the company was construction haulage, which suffered a deep decline in volumes during the recession.
"The price of running its own in-house maintenance garage was high and, when coupled with government legislation, such as having to finance the Driver CPC for employees, the company was no longer in a profitable position."
He adds: "There was no realistic chance of a buyer being found for the business."
The firm ceased trading shortly before the liquidation date, with all 14 employees made redundant. It had an O-licence for 18 HGVs, all of which will be put up for auction.
- Meanwhile, Nelson, Lancs-based MacGregor Europe has entered administration. The Bury office of corporate recovery specialist Leonard Curtis was appointed to handle the administration on 16 April.
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