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Leeds-based Macfarlane Transport, one of Britain's biggest road hauliers, has
entered administration with the loss of about 300 jobs.
The company has blamed the situation on rising fuel prices and an increasingly
competitive market.
Administrators KPMG said the company, which has an annual turnover of £20
million, had seen its profit margins come under unsustainable pressure.
Richard Fleming, KPMG restructuring partner and joint administrator, explained:
"It's very unfortunate that this long-established business has been unable to
survive and that large scale redundancies will be inevitable as a result."
Source:
RedAlert
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