Asprey Transport has confirmed the business is to be wound down as administrators have been appointed, with 16 August its last day of trading.
Last week the firm stated it had been unsuccessful in turning business around after trading difficulties, but stopped short of publicly stating Aspray Transport would be closing its doors. Meanwhile, the firm had sent out letters to customers and employees stating it would close its doors this week.
Now the reports have been corroborated by the firm, with Benjamin Wiles and Allan Graham, both of Duff & Phelps, have been appointed Joint Administrators to Aspray Transport Limited.
Lee Bushell, Group CEO of Aspray Group said: "It is with great regret that we have served notice to appoint administrators to Aspray Transport. This decision has not been taken lightly, but we do not consider there to be any other option in the current circumstances.
"On this basis, and with a heavy heart, we have taken the difficult decision to wind-down Aspray Transport. Regrettably, this will have a direct impact on the Company’s workforce and members of staff will be made redundant as a result.
"Today will be Aspray Transport’s last day of trading. We would like to thank everyone who has supported the business over the years and wish them the very best for the future.
"We would also like to reaffirm our commitment to the employees and customers of the wider Aspray Group, which will now transition into a warehousing and logistics business."
Benjamin Wiles, Joint Administrator, stated: “Over the past few months Aspray Transport has faced an increasingly difficult trading position. It has already been reported that increasing fuel costs combined with adverse trading conditions as a result of the uncertainty linked to Brexit, have led to an unsustainable decline in business.”
“Following our appointment the Administrators have started an orderly wind down of the Company. We have had to make a number of employees redundant today however some have been retained to support the wind down process.”
Aspray Logistics and Aspray International employees and customers, which represent the warehousing and logistics side of the business, are not affected by the administration process.
Here's today's statement in full from Lee Bushell, Group CEO of Aspray Group:
“It is with great regret that we have served notice to appoint administrators to Aspray Transport. This decision has not been taken lightly, but we do not consider there to be any other option in the current circumstances.
"As you may be aware, Aspray Transport has been experiencing trading difficulties for some time, due to a number of factors including the uncertainty linked to Brexit, as well as rising fuel prices and adverse market conditions.
"Over the past few months we have been working tirelessly to find a solution to addressing the Company’s poor trading performance. This has included initiating a CVA process, seeking additional investment and speaking to potential purchasers. Unfortunately, these have been unsuccessful given the broader economic challenges in the market.
"On this basis, and with a heavy heart, we have taken the difficult decision to wind-down Aspray Transport. Regrettably, this will have a direct impact on the Company’s workforce and members of staff will be made redundant as a result.
"We are desperately sad for the employees and customers of Aspray Transport. We have been working closely with staff to find new employment, including recruiting some into other areas of the wider Aspray Group, as well as introducing others to competitors, recruiters and the Department of Work and Pensions for support. We have also engaged the Employment Relations Authority to provide ongoing support with redundancy claims and questions post-employment. Outside of this, we have made a further investment into the company to cover holiday pay so that staff are not waiting for their final pay.
"Today will be Aspray Transport’s last day of trading. We would like to thank everyone who has supported the business over the years and wish them the very best for the future.
"We would also like to reaffirm our commitment to the employees and customers of the wider Aspray Group, which will now transition into a warehousing and logistics business. It is the start of a new chapter for Aspray Group and we are placing significant focus and investment on this, including the development of a new warehouse facility, and a state-of-the-art-warehousing operational centre. We anticipate that these facilities will create more than 150 new jobs in the next three years.”
Aspray Transport is the next day delivery arm of Aspray Group. It has 192 employees at its headquarters in Willenhall in the West Midlands, and an additional 257 employees across the UK.
