Suffolk road freight company Deben Transport has ceased trading as of April 13th and gone into administration, it has been confirmed. The news will come as an unpleasant surprise to many in the industry, given the company’s size and apparent stability.
This said, Deben Transport has been in financial difficulties for some time, notably posting a 2013 pre-tax loss of £658,000. The news will have a significant impact on the freight industry, as the company employed 200 drivers, 50 office-based staff, and over 100 subcontractor drivers.
In fact, since starting in 1987 with only two vehicles, the fleet soon expanded to become one of the biggest in the country, with 225 tractors and 500 trailers.
An attempt to clear up the perennial problem of late payments with an invoice discounting facility, as well as bringing investors on board in April 2014, seems to have been unable to rescue the company.