Grangemouth-based Duncan Adams, which had a fleet of around 100 trucks, had been incurring significant losses for some time, according to administrators from Deloitte. The company had 144 employees and 132 have since been made redundant.
Joint administrator Michael Magnay said the business had suffered during difficult trading conditions for the sector. A possible sale had been explored before administrators were appointed.
“Regrettably cash flow pressure greatly restricted the time available to explore this,” said Magnay.
“This is an extremely difficult time for everyone involved and we are providing our utmost assistance to those affected as well as liaising with the Scottish Government’s Partnership Action for Continuing Employment agency,” he added.