Gwynedd Shipping Limited and Gwynedd Transport Limited - Administration

Gwynedd Shipping Limited and Gwynedd Transport Limited, North Wales-based logistics and shipping companies which together employed 142 people, entered administration on 15 January. The businesses, which originally began trading almost 40 years ago, have faced financial challenges common in the transport and distribution sector including certain loss-making contracts. Unfortunately, due to the extent of legacy liabilities, the businesses were unable to secure their future on a going concern basis.

The businesses ceased to trade and most employees were made redundant with immediate effect on the appointment of James Saunders and Michael Lennon of Kroll as joint administrators. They are currently in discussions with several parties interested in acquiring certain of the companies’ assets.

National Westminster Bank and Close Invoice Finance have registered charges against both companies, while Lsf Estates has a registered charge against just Gwynedd Shipping.