Deloitte have been appointed as administrators to Duncan Adams Limited. 

Michael Magnay and Clare Boardman of Deloitte, the business advisory firm, has been appointed as administrators to Duncan Adams Limited (“the Company”), a Grangemouth-based road haulage business.

The company has a fleet of around 100 trucks and an annual turnover of circa £16m. At the time of appointment, the company had 144 employees and regrettably, 132 number of employees have since being made redundant. 

Due to certain client contracts, the company has been incurring significant losses.

Together, with difficult trading conditions in the industry over the past couple of years, these factors created cash pressure within the business. Potential sale opportunities were explored by the business prior to the administrators’ appointment.

However, in the limited time available, this did not lead to any serious expressions of interest. Accordingly, the administrators are implementing an organised wind-down of the business.

Michael Magnay, joint administrator, said: “Unfortunately, Duncan Adams Limited, like many in the haulage sector, has encountered difficult trading conditions in recent times. Although it had been hoped that a buyer could be found for the business, regrettably cash flow pressure greatly restricted the time available to explore this. 

“Consequently, the director had no alternative than to appoint administrators which has ultimately led to the redundancy of the majority of the company’s staff. This is an extremely difficult time for everyone involved and we are providing our utmost assistance to those affected as well as liaising with the Scottish Government’s Partnership Action for Continuing Employment agency.”