MJC Transport Limited (06618436): administration
- Status
- Administration ended
- Administration began
- 2011-10-03
- Formerly
- The Belvedere Transport Company Limited; MJC Transport Limited; The Belvedere Transport Company Limited
- Incorporated
- 2008-06-12
- Location
- Chatham Maritime
- Industry
- 7487
Why it went into administration
- Property / lease costs
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
From the administrators' statement
' was contacted by Bibby on 30 September 2011, who wished to discuss the position of the company following receipt of information that a winding up petition had been issued against the company by HM Revenue and Customs After reviewing the options available to them, they concluded that steps should be taken to place the company into administration and appoint an administrator Due to the tack of time available, the appointment was made on 3 October 2011 and consequently the first time that the director could provide information in relation to the company was after the appointment had been made
A meeting was held with the director on the evening of 3 October 2011 and he advised that the company had been trading for approximately three years, providing transport and delivery services for one chent, TNT He advised that the trading environment with TNT had always been challenging with low margins and a requirement to provide a flexible service for them He advised that this meant that he had to be able to flex the size of both his workforce and van fleet quickly, which resulted in costs being higher than if a constant supply was made In order to flex the van fleet, the company rents their vans from a fleet supplier rather than purchasing them Staff flexibility was mainly achieved by offering overtime, as well as the director driving vans if required
The director advised that the TNT contract margins were small and thts meant that profitability was contingent upon
Administrators' statement of proposals (2011-11-23) · Companies House register