One subcontractor of collapsed Yorkshire haulier JDF Logistics has already been forced to cease trading due to crippling debts of more than £100,000.
JDF closed at the beginning of November (MT 29 Oct) following the appointment of administrators on 22 October, blaming cashflow issues caused by the recession.
However, the big losers appear to be the large number of subcontractors on its books who are owed a total of £2.8m as unsecured creditors, and with a total deficiency of £3.2m, it is unlikely they will see any dividend.
Particularly hard hit is Idle, Bradford-based RF Paxton Transport. It is owed around £103,000 by JDF and has been forced to pull out of haulage as a result. MD Richard Paxton says there were no warning signs that JDF was in difficulty. He adds: "I spoke to someone in accounts as I was setting off on holiday and they promised me a cheque for £20,000.
"The next thing I knew was five hours later when I got a text telling me JDF had gone into administration."
Paxton says his company was handling four or five loads per day for JDF, but had always been paid on time. He is now concentrating on a warehousing business, he adds.
Trevor Swift, who runs Barnsley, South Yorks garage and haulage firm T&S Transport, is owed £83,065. Boss Trevor Swift says the firm has the capacity to cope with the debt, but says it is "a bitter pill to swallow".
Related used vehicles for sale
