Mazars, the international accounting and advisory firm, has been appointed as Liquidator of PB Transport Solutions Limited. Based in Pucklechurch, Bristol, the company, which was established in 2011, was a leading supplier of all types of transport training courses in the South West, including specialist HGV / LGV driver training. The company also operated a 35,000 sq ft warehousing facility.
The company expanded to reach a turnover of £1 million in the year ending April 2019. However, a very difficult trading environment with economic uncertainty surrounding the Brexit referendum caused a decline in demand for the company’s warehousing facilities. Key customers were lost, and following the onset of the Coronavirus in March 2020, the entire driver training operation began to slowly shut down, as training tests could not take place.
In the absence of alternative work being readily available and the resulting cash flow difficulties, the Directors decided that the company had to be placed into Liquidation. The business ceased to trade and the 11 employees were made redundant on 20 March 2020. Tim Ball and Mike Field of Mazars LLP were appointed as Joint Liquidators by the Creditors on 9 April 2020.
Tim Ball of Mazars LLP said “It is sad to see a company like PB Transport Solutions Limited fail as it is a business that has successfully traded for a number of years. External factors have impacted this business which has, in its most recent year, been profitable. Unfortunately, given a very significant drop off in trade, the company has run out of cash and the Directors had to make the difficult decision to enter Liquidation to prevent the position for creditors worsening”.
