The liquidation of Scottish haulage firm Hayden Chilled has been confirmed by accountancy firm Azets.
- The company ceased trading following a winding-up petition in court.
- Hayden Chilled managed a fleet of 29 HGVs and 40 trailers across several bases.
- The road haulage sector faces severe challenges due to financial and operational pressures.
- Azets is assisting 37 laid-off employees with essential support and redundancy claims.
Accountancy firm Azets has been tasked with overseeing the liquidation process of Hayden Chilled, a refrigerated haulage company in Scotland. The decision follows a winding-up petition presented by company director David Malcolm, highlighting significant financial difficulties that the company could not overcome. According to Azets, all trading activities had ceased prior to the official appointment of liquidators.
The company’s operations included running a fleet of 29 heavy goods vehicles and 40 trailers, stationed at various locations including Cleland, Annan, and Motherwell, with its headquarters located in Annan, Dumfriesshire. Despite offering services across the UK, Europe, and Ireland since its inception in 2018, Hayden Chilled succumbed to the intense pressures faced by small and medium-sized enterprises in the logistics sector.
Blair Milne, Partner at Azets, highlighted the broad challenges confronting the road haulage industry, stating, “The road haulage industry is facing a multitude of challenges as it contends with the transition to net zero, inadequate infrastructure, a major skills gap and unsustainable cost increases, exacerbated by the rising cost of living.” These factors have been particularly detrimental to smaller operators with narrow profit margins, culminating in Hayden Chilled’s financial troubles.
A significant portion of the company’s fleet was under finance agreements, prompting the need for asset recovery or auctioning to settle outstanding debts. Alongside asset management, Azets is prioritising support for the laid-off workforce. Efforts are concentrated on facilitating claims to the Redundancy Payments Office and coordinating with agencies like Scotland’s PACE to support the displaced employees.
Established in 2018, Hayden Chilled provided extensive distribution services, handling a diverse array of products such as chilled meats, pharmaceuticals, and dairy items. However, the confluence of economic pressures ultimately led to its demise, underscoring the broader vulnerabilities within the sector.
The closure of Hayden Chilled exemplifies the harsh realities faced by small enterprises in the current economic climate.
