Liquidated Cannon Transport has a deficiency of £771,810

Tyne and Wear-based Cannon Transport was liquidated owing creditors some £771,810, according to documents filed with Companies House.

The nine-year old haulage firm, which called in liquidators on 23 June, owed preferential creditors £10,027, floating charge holders £170,000 and unsecured non-preferential creditors £650,017.22 as well as £100 to ordinary shareholders. However the Statement of Affairs from joint liquidators Ian Kings and Steven Ross of RSM Tenon Recovery reveals that the firm only had £58,334 of available assets.

In June, a spokesman for RSM Tenon Recovery, told Roadtransport.com: "The company has shut down following the withdrawal of its fuel account [GB Oils] and because of various other reasons."

Unsecured creditors include Gateshead-based Mann Haulage which was owed £10,868, and Texaco, which was owed £28,855.10.

VOSA records reveal that Cannon Transport held an O-licence for 22 vehicles and 16 trailers from its two units on the Bentall Business Park.