Collapsed haulier had debts of £450,000 after losing Pallet-Track membership and key contract, report reveals


West Midlands haulier Adam Jones and Sons collapsed into administration and closed down after racking up losses of more than GBP450,000 due to the Covid-19 pandemic, according to insolvency experts.

The Halesowen business was forced to appoint administrators on 24 May, just three years after it was acquired by investment firm OTIF Holdings and its closure led to 50 redundancies.

In a report to creditors, FRP Advisory said the company had endured a number of challenges, including the pandemic in [...]

Please login or create a FREE account to read the full article.