A haulage company which has operations in Corby and St Albans has gone into administration with the loss of a total of 53 jobs.
Bill Chippington Haulage, of Geddington Road, in the town, ceased trading on Friday and Peter Wastell and Michael Young of FRP Advisory have been appointed administrators.
The firm, which has been trading since 1976, struggled because of the tough economic climate.
Mr Wastell said: “The economic climate for UK haulage companies has been, and continues to be tough and Bill Chippington Haulage had been struggling with its financial position for a prolonged period.
“Refinancing options were explored, as was the viability of selling the business as a going concern, but, regrettably, the business has ultimately had to shut down with the loss of 53 jobs across the company’s two trading sites.”
FRP Advisory is now taking steps to dispose of the company’s assets, including its fleet of vehicles, in order to maximise the return for the Company’s creditors.”
A small number of staff will be kept on in the short term to assist the joint administrators with the winding up of the firm’s affairs over the coming weeks.