this released 23 jan in express parcel systems newsflash
23rd January
Bulmers Logistics enters ‘pre-pack’ administration
The global downturn has claimed its first high-profile victim of the new year, with Teesside container operator Bulmers Logistics forced into a ‘pre-pack’ administration, with a new company, Bulmers Transport — formed by the previous management team — taking over its “trade and assets” for an undisclosed sum.
Bulmers Logistics had been under pressure for some time, with the company hit badly by the fall in container volumes. It had already shed some 50 jobs before Christmas in a bid to cut costs, however, when its funder declined to provide continuing support, the firm was left with little option but to consider either a sale or administration. It eventually entered administration at 1600hrs on 21 January, with the assets sold five minutes later.
Although the company will be making some 50 staff redundant, cutting its fleet by 40 trucks and closing its Hull and Immingham offices, it saves more than 200 jobs, which will transfer to the new firm under TUPE. In addition, it says it will continue to service all its current locations directed from its Middlesbrough or Ipswich offices.
The managing director of Bulmers Transport, Jonathan Bulmer, says: “I am extremely pleased to be able to offer a secure future to the majority of our customers, staff and suppliers.”
Director Andrew Spence-Wolrich says that the move is not without pain for some of its creditors, but insists that this was the best possible outcome. He adds: “Jonathan Bulmer has invested a large amount of money in this. The reason he’s done that is because he’s a fighter and he doesn’t want to give up on a business he’s been running for the past 17 years.
“There’s also a 100% belief in his people.”
As yet, there is no indication of the size of Bulmers Logistics’ debt or the eventual dividend to creditors.
I Just hope that it works out all right for the ones who are left with a job, a hell of a fight for those getting paid off
