Firm in administration
Haulier Corporate Road Solutions collapses with 66 jobs lost
Fleet at standstill: Director struggled to find more capital
Road haulage company Corporate Road Solutions 24:7 has collapsed with the loss of 66 jobs.
Based in leasehold premises at Redmill Industrial Estate in Bathgate, the company was incorporated in October 2005 operating as a road haulage contractor and freight forwarder.
Latterly employing 70 staff together with a number of agency and self-employed drivers, the company specialised in the transport of goods for large supermarkets together with smaller Scottish businesses, primarily across the UK.
In recent years it has suffered from increasingly challenging market conditions and cost pressures. Over 2019 the resulting financial difficulties were exacerbated by the departure of key freight forwarding staff to a competitor together with the loss of a major customer.
The director sought to address financial issues by cutting costs and securing additional working capital. Discussions were also held with certain third parties with a view to securing investment or sale of the Company.
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 it into administration.