A freight firm from Ebbw Vale has gone into liquidation with the loss of 10 jobs.
Scott Commercials ceased trading at the end of June this year citing the soaring price of fuel as one of the factors that led to its closure.
Insolvency firm Begbies Traynor has been appointed liquidators of the company.
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Established in 2013, the company provided road haulage services to transport operators across the UK.
But recent rises in PAYE, fuel, ad-blue a fuel additive, and tyres had created significant cash flow issues for the haulier, resulting in the company's fuel bills rising by approximately £4,756 net per week from June 2021 to June 2022.
The liquidation is being handled by Bristol-based Begbies Trayner partner Paul Wood and Huw Powell, a partner in the Cardiff office, who will both work with company director and owner Richard Scott to wind up the business.
Mr Wood said fuel price inflation had created immense pressures for many in the transport sector.
He said: "The last 12 months has been an incredibly difficult time for hauliers, who have seen their overheads increase dramatically and rapidly. Despite efforts to reduce the impact, these challenging trading conditions proved untenable for Scott Commercials, and we will be working with the director to wind up the business and recover any assets on behalf of creditors."
He added: "The rapid rising costs of raw materials does illustrate the need for business owners and directors to seek advice at an early stage if they are experiencing financial challenges. There are sometimes steps that can be taken which will help to place a company on a more secure footing - and reduce the risk of liquidation.”
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