Youngs Transportation & Logistics Limited - Administration

Youngs Transportation & Logistics Limited, a transport and warehousing firm which operates at the Port of Felixstowe, and North West Cargo Limited, which Youngs acquired in 2020, entered administration on 31 January.

The two companies employed approximately 250 people and operated across five sites in the South East, South Coast and North West of the UK. Their combined turnover stood at over £40m with more than 100 vehicles in operation.

Alex Cadwallader and Dane O’Hara of Leonard Curtis were appointed as joint administrators, and said that issues affecting the UK logistics sector - including ongoing economic circumstances in the UK and wider factors affecting global freight and shipping - have led to insurmountable working capital difficulties for the companies.

One of the company’s sites in the north west has been sold, protecting a small number of jobs. Two other sites are being shut down with significant redundancies being made.

Bibby Financial Services has registered charges against both companies, while National Westminster Bank has a registered charge against just Youngs and Tfg Capital has a registered charge against just North West Cargo.