Bathgate-based road haulage contractor Corporate Road Solutions has gone into administration with the immediate loss of 66 jobs.
Blair Nimmo and Alistair McAlinden have been appointed as joint administrators of the business which is based in leasehold premises at Redmill Industrial Estate in Bathgate.
The company ceased to trade immediately following the administrators’ appointment yesterday with 66 employees having been made redundant and four being retained to help the administrators.
The business specialised in transporting goods for large supermarkets together with smaller Scottish businesses – primarily transporting across the UK.
The administrators said the company had suffered from increasingly challenging market conditions and cost pressures.
Over 2010 the resulting financial difficulties were exacerbated by the loss of key freight forwarding staff to a competitor together with the loss of a major customer.
They said that the director had sought to address the financial problems by cutting costs and securing additional capital.
But “despite these extensive actions, financial pressures continued to mount and with no offer for the Company forthcoming the director concluded that there was no option other than to place the Company into administration.”
Blair Nimmo said: “Haulage remains a challenging sector and, despite the tireless efforts of the director, unfortunately, Corporate Road Solutions 24:7 Limited has now entered into Administration.
“It has not proved possible to continue trading in light of significant liabilities and cashflow difficulties. This has, in turn, resulted in the redundancies which have been announced and the closure of operations.
“Our attention is focused on supporting the impacted customers and employees. We will be working with all affected employees and the relevant government agencies, including the PACE team at Skills Development Scotland, to ensure a full range of support is available.
“Impacted customers and parties with an interest in the business and or assets should contact the joint administrators as soon as possible.”
