A record 463 British haulage businesses have collapsed in the last 12 months, more than double the number two years ago, according to data obtained by accountant Price Bailey.
The data shows that the number of haulage businesses entering insolvency jumped from 225 in 2020/21, to 363 in 2021/22, and then to 463 in the most recent 12-month period, representing a rise of 173% in just two years (year ending 30 September).
Price Bailey also looked at the credit risk score of the UK haulage sector. It revealed that 33% of businesses in the sector are deemed maximum risk, up from 22% 12 months ago. Businesses in the maximum risk category are considered at imminent risk of collapse and will find it almost impossible to access extra funding unless directors provide personal guarantees.
