ON 6th February 2024, Ken Pattullo and Kenny Craig of Begbies Traynor were appointed as joint administrators of Kirriemuir-based haulage company AAD Transport Ltd.
The business was established in 2011. AAD Transport is a family-run haulage business operating mainly across the UK and also offers haulage services to customers in some regions of Spain and France.
Unfortunately, the haulage sector has suffered in recent years and AAD has had difficulty in their cash flow from rising operating costs as the price of fuel continued to increase and profit margins became less and less. This has resulted in AAD Transport Ltd being placed into administration.
Begbies Traynor, as administrators, are continuing to trade AAD Transport and their agents, messrs GMG Asset Valuation Ltd, have been appointed to assist to find a buyer for the business as a going concern.
Thomas McKay, a partner at Begbies Traynor in Scotland, said: “Unfortunately, the transport sector has been severely impacted both by Covid and by higher than normal increases in fuel and other operating costs in recent times. After 13 years in business, we are working hard to enable AAD Transport Ltd to continue trading in order to find a buyer for the business and assets, and help to secure the 65 employee jobs, which are currently at stake. The business has a skilled workforce and an extensive vehicle fleet of lorries and trailers. We believe the business is viable and we are working with our agents to find a buyer for the business and assets, as the business continues to trade at this time.”
Ken Pattullo, partner at Begbies and joint administrator, added: “Our priority is engaging with all stakeholders to find a solution for the business and employees going forward, including the loyal customer base which has worked with the company since its incorporation.”
