Jobs saved in rescue deal for haulage company

SCORES of jobs have been saved in a deal to rescue longstanding haulage company BI Halder & Son Ltd, based near Driffield.

- By TOM KEIGHLEY

The more than 50-year-old company called in administrators earlier this month having run into financial difficulties in the face of cost inflation in recent years.

The Cranswick Industrial Estate firm is said to have suffered pressure in the wake of the Covid pandemic, and amid the war in Ukraine which have led to increases in fuel and operating costs. Interest rate hikes also squeezed the business, creating challenges with cashflow.

Administrators from insolvency firm Leonard Curtis were appointed this week after a refinance deal to solve the cashflow issues was not enough to save the business.

A prepackaged sale out of administration was agreed with Halder Transport & Storage Limited, also run by BI Halder directors Louise and Paul Halder, safeguarding 45 jobs.