Understand the position
Clear information before you decide what to do next
Haulage company insolvency advice covering vehicle finance, fuel, HMRC, customers, operator commitments and rescue or liquidation.
- Review profitability by vehicle, route and contract
- Map finance, asset and operator commitments
- Protect viable contracts and fleet value
Build the position vehicle by vehicle
Revenue, fuel, driver costs, repairs, insurance, finance and empty mileage should be examined by vehicle and contract. A busy fleet can still consume cash where rates do not cover the full operating cost.
The fleet may involve several ownership structures
Owned vehicles, hire purchase, leases and rentals can all be treated differently. Finance documents, settlement figures and asset schedules should be gathered before considering a sale, restructure or closure.
Continuity requires careful coordination
Customers, drivers, maintenance providers, fuel suppliers and regulatory commitments can all affect whether trading can continue. Advice should be taken before vehicles or contracts are moved between companies.
Practical next steps
What to prepare now
A clearer picture helps the first conversation focus on realistic options.
- Prepare contract and route profitability figures
- List every vehicle and its finance position
- Update fuel, tax, payroll and supplier arrears
- Review cash flow before accepting new work
Common questions
Haulage Company Insolvency Advice FAQs
Can financed vehicles be kept during a rescue?
Possibly, depending on affordability, the finance terms and the provider’s agreement. Each agreement needs to be reviewed.
Can contracts move to another company?
Contracts and assets should not be transferred without proper valuation, authority and professional advice, particularly when the existing company is insolvent.
What happens to drivers if the company closes?
Employment normally ends. Eligible employees may claim certain statutory payments under the applicable insolvency rules.
Can a profitable part of the fleet be sold?
A sale may be possible where it produces an appropriate outcome, but ownership, finance, contracts and licences must be considered.
How important are current management accounts?
They are important, but vehicle and contract level information is also needed to identify which work contributes cash and which work creates losses.
Can HMRC arrears be restructured?
A payment arrangement may be considered where it is affordable and new liabilities can be paid on time. Wider debts should be reviewed at the same time.
Should the company keep taking loads?
Only where the company has a reasonable basis to complete the work and continued trading is not expected to worsen creditor losses.
Can personal guarantees affect the director?
Yes. Vehicle or business finance may include personal guarantees that remain separate from the company’s liability.
This page provides general information and is not legal, tax or financial advice. The right action depends on the company’s circumstances. Formal insolvency procedures must be handled by an appropriately authorised professional.
