Union Transport Group, an owner and operator of coastal dry cargo vessels, has entered administration with 11 job losses.
07.05.2013 The company, based in Bromley, fell into administration on 25 April 2013. Business adviser BDO announced that business restructuring partners Matthew Tait and Mark Shaw have been appointed to handle the affairs of the company. The management services company employed 27 land-based staff, of which 11 have now been made redundant.
A buyer is now being sought for the business and its assets as a going concern. Tait said: “Unfortunately difficult trading conditions within the shipping industry have significantly affected the business. “Our immediate priority has been to ensure the safety and security of the ships and crews. As joint administrators, we are committed to working with management, ship owners and contract parties to resolve any issues as quickly as possible. “We are also working to ensure any cargoes aboard the group’s vessels reach their destination with minimal disruption. “We recognise that this will be a difficult time for the group’s employees and we will be offering them appropriate support.
We are grateful for their help during this period.” BDO has also confirmed that the group’s subsidiaries are unaffected by the collapse.
The subsidiaries of Union Transport Group plc are U.T. (Finance) Ltd, Acorn Shipyard Ltd, Sagitta Shipping Company Ltd, Bromley Shipping plc and Union Transport (Ship Management) Ltd.
Source: Insider Media Ltd
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11 Jobs lost at Union Transport Group | Logistics Job Shop