Hertfordshire-based L&S Pearse Haulage is the latest small haulier to enter liquidation, after crumbling under soaring diesel costs.
The Bishop Stortford haulier ran three HGVs, yet ran up bills of more than £88,000, which it was unable to pay back, according to Wayne Harrison and Eric Walls of KSA Group, who were appointed joint liquidators of the business on 18 January.
Preferential creditors were owed £11,425, unsecured creditors submitted claims totalling £73,116.45, and shareholders were also owed money.
However, the company had no available assets at the time of liquidation, and it left a deficiency of £88,697.45.
"This is sadly indicative of the problems many hauliers are facing. The main problem is high fuel costs and low margins, and I believe there will be many more operators going down the same path as L&S Pearse," a KSA spokesman says.
The demise of L&S Pearse came shortly ahead of Tyne & Wear-based Kent Connection calling in administrators owing to the majority of its customers refusing to accept a fuel surcharge.
