Preston-based H Parkinson Haulage, a long-established family-run business, has entered administration this month, with FRP Advisory taking over the company’s affairs.
Founded in the early 1950s, H Parkinson Haulage appointed insolvency experts on Monday, 5 August. The company is currently under consideration by the traffic commissioner for the surrender of its standard national license, which covers 85 HGVs and 160 trailers.
The haulier operated from five bases in the North West traffic area and one in Wales, where it was authorized to run six trucks. The last available financial records for the company, which provided services in transport, warehousing, repair and maintenance, and ATF, reported revenues of £16.3 million for the year ending 30 June 2023. Notably, the company had returned to profitability, reporting a pre-tax profit of £69,000, after a loss of £35,000 in 2022.
While the company has declined to comment on its current situation, its business review for the period highlighted that despite significant industry challenges, it had managed to maintain its contractual and general work by raising rates to offset rising costs.
The review also emphasized the fierce competition in the haulage industry, especially given the ongoing supply chain disruptions, driver shortages, and inflation. H Parkinson Haulage noted that inflation had significantly impacted all costs within the business, forcing them to pass on these extra costs to customers, though profit margins remained under constant pressure.
