# Rush Courier Services Limited (02619179)

> Why UK company 02619179 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02619179

- **Status:** Administration ended
- **Administration began:** 2019-12-09
- **Administrators' firm:** Begbies Traynor
- **Formerly:** Rush Couriers Service Limited; Rush Couriers Services Limited; Post Haste Group Limited; Posthaste Group Limited; Arrow Express Limited; Cabhill Limited
- **Incorporated:** 1991-06-11
- **Location:** Salisbury
- **Industry:** 53201 Licensed carriers

## Why it went into administration

- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Brexit

## From the administrators' statement

We understand that the Company was incorporated on 11 June 1991 to carry out business as a general commercial entity. It later changed to a courier and messenger business and initial finance was provided by Arrow Express and shareholder loans.

The business operated from various sites and eventually added a Cambridge depot. The business grew to revenue in excess of £7.5m. However, there was a decline in trade from 2016 due to a toss of a significant customer and Brexit which resulted in the decline in average spend by 50%. In addition, labour costs increased as a result of Workplace pensions and increases in minimum wages.

Following the management buyout of the Cambridge site in November 2018 (see Appendix 2), there was a brief increase in trade followed by a very flat 2019. Trade had fallen by 25% and excess property costs resulted in the Company being unable to satisfy its creditors as they fell due.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02619179/filing-history/MzI1NDM3MzYzOGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02619179

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.