Sterling Services UK Limited (03959153): administration
- Status
- Administration ended
- Administration began
- 2020-11-23
- Administrators' firm
- KPMG
- Incorporated
- 2000-03-29
- Location
- Leeds
- Industry
- 52103 Operation of warehousing and storage facilities for land transport activities
Why it went into administration
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
- COVID-19
- Weak consumer demand
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 29 March 2000 and operated as a haulage business, providing a same day delivery service and an express haulage service across the UK and Europe. The Company also operated a general haulage division and project management function. The Company's headquarters were located at leasehold premises at Millshaw Business Park, Leeds and the Company had a turnover of £15.2 million for the 12 months to 30 November 2019.
The Company also operated from a further leasehold site in Leeds, used as storage for vehicles, in addition to a leasehold site in Doncaster.
During August 2020, one of the Company’s key customers advised that they would be ending their contract with the Company. This also coincided with the loss of a key member of Company staff, who sadly passed away. This resulted in the Company coming under increasing cash flow pressure as it sought to replace the lost turnover with additional revenue.
Administrators' statement of proposals (2020-12-17) · Companies House register