Begbies Traynor sells logistics provider out of administration

Begbies Traynor has sold out of administration parts of the trade and assets of family-owned logistics provider, Bridgetime Transport Ltd, to Monex Group, securing the future employment of the majority of its workforce. 

Based in Cwmbran, Bridgetime Transport Ltd was an “award-winning” operator on three pallet networks and provided APC parcel services in the Newport area. The company had grown to a fleet of more than 100 vehicles and served blue chip clients during the past two decades.  

However, despite over 20 years of successful trading, the challenges of the economic climate in recent years saw the company run into difficulties. With weakened demand for goods, and therefore haulage services, the company experienced a significant drop in volumes and revenues.

Huw Powell, administrator and partner at Begbies Traynor, said: “It is always sad to see a long-established company reach this point, especially one such as Bridgetime where, under the guidance of its director Robbie Evans, it had achieved so much and received excellent customer feedback over more than 20 years. 

“I know both Robbie and his wife Emma-Jane would like to extend their gratitude to all staff, stakeholders and clients for their support over the years.”  

He added: “Moving forwards, we are delighted to be able to secure the future of so many jobs after such a difficult period through this deal with the Monex Group. We wish them every success in the future.”

James Howells, MD at Monex Group, said: “It is always incredibly sad to see the demise of such a well-known local transport business. We regret that in the time available to us, the Monex Group was not able to protect all of the dedicated employees. However we are pleased to have been able to save a number of local jobs.”