Administrators have been appointed at a North Wales haulier. Sunhill Transport Ltd on Deeside were established back in 1972 and remained a family run firm with a fleet of around 30 vehicles and many long serving staff.
North Wales Live reported last month that the company had filed a Notice of Intention to appoint an administrator.
Now Patrick Lannagan and Conrad Pearson, of Forvis Mazars, have been appointed Joint Administrators of the firm and staff made redundant. They employed around 32 staff. Sign up for the North Wales Live newsletter sent twice daily to your inbox
They said the recent hike in fuel prices after the US and Israel attacked Iran had led to significant losses and cash flow issues.
A spokesperson for Forvis Mazars said: “The Company was incorporated in 2012 from a family business which had been trading since 1972 and was based in Deeside, operating as a haulage Company delivering steel, building materials and other steel-related products.
“Following a number of years of growth and trading, the recent substantial increases in fuel prices have caused the business to suffer losses and experience significant cash flow issues.
“Given the resulting cash flow difficulties, the director determined that the Company should to be placed into Administration. The business has ceased to trade, and all employees have, regrettably, been made redundant.”
Conrad Pearson, Director at Forvis Mazars, said: “We are sorry to see a family established business cease trading after 50 years, having passed across two generations of the family.
“Upon reaching the conclusion that the business was no longer viable, the director was keen to act quickly and prevent the position for creditors worsening and appointed Administrators. We will be writing to creditors in the coming days.”