Workers sent home and 24 jobs at risk as haulier enters administration
Employees have been sent home
Twenty-four jobs at a Lincolnshire haulier are under threat after it entered administration.
A number of subcontractors could also be looking for more work after KPMG was appointed as administrator to M&J Haulage Limited.
The firm, based in Snelland near Market Rasen, operates as an agricultural contracting business specialising in the cultivation of sugar beet and other arable crops.
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The company grows its own crops while also providing contract farming and haulage services to other customers in the East Midlands.
Chris Pole, partner at KPMG and joint administrator, said: "The company had recently seen a decline in its order book, which led to significant pressure on its cash flow.
"Over the coming days, we will be assessing options for the business, including the possibility of resuming operations, while we explore a sale of the business and its assets."
The company had been impacted by reduced contract volumes leading to a downturn in profitability and subsequent cash flow issues.
With growing creditor pressure, the inability to obtain further funding and an absence of any committed increase in long-term orders, it was deemed that a viable business no longer existed.
Operations on site have been suspended and all employees have been sent home while the joint administrators, Mr Pole and Mark Orton, assess the options available.
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