SAM Carmichael Logistics Ltd (13351502): administration
- Status
- Administration ended
- Administration began
- 2023-01-03
- Administrators
- James Richard Clark, Howard Smith
- Administrators' firm
- Interpath Advisory
- Incorporated
- 2021-04-22
- Location
- Leeds
- Industry
- 49410 Freight transport by road
Why it went into administration
- Loss of a key customer, supplier or contract
- Sustained trading losses
- Supply chain disruption
- Bad debts / customer insolvency
From the administrators' statement
The Company's two largest customers have both recently faced financial difficulties both of which were associated by virtue of common shareholders and directors. One of these entities held the Company’s vehicle operators licence.
The Company was incorporated as part of a wider strategic plan to vertically integrate the supply chain and reduce haulage costs in relation to the distribution of timber across other associated entities.
One of the Company’s largest customers was CIL which entered administration in July 2022. As a consequence, a significant amount of sales volume was lost by the Company, causing it to become loss making. The insolvency event also crystallised an outstanding amount owed to CIL of £858,007.
Administrators' statement of proposals (2023-02-20) · Companies House register