A major freight company based in Staffordshire has officially ceased trading with the loss of a number of jobs.
Netfold, which trades as Amtrak and specialises in national and international parcel freight, is headquartered in Northgate Way, Aldridge, and operates two distribution hubs – in Aldridge and Warrington – together with 36 distribution depots across the UK.
The company called in administrators on Friday after getting into difficulty.
Joint administrators from Ernst & Young spent the Bank Holiday weekend assessing the business to see how much of it could be salvaged and how many of the 900 workers would retain their jobs.
A spokesman for Ernst & Young said: “Amtrak has announced that they have ceased trading and a number of redundancies have been made.
“Parcel deliveries were suspended and a certain amount of disruption was caused, however, the administrators have now organised the delivery of the outstanding parcels.”
There was a certain amount of confusion at the Aldridge site with delivery vehicles being turned away and staff uncertain whether they still had a job.
The administrators are continuing with their assessment of the business and the picture is expected to become clearer within the next few days.
High costs and the continuing squeeze on consumer spending have been blamed for the collapse of the business.
The company was launched in 1987 and chose the West Midlands as its base because of the region’s key location at the heart of the national transport network.
It had built up a nationwide network of depots and had more than 1,000 delivery vehicles operated by staff and franchised drivers.
Extensive investment had been made in the Aldridge distribution centre to make it one of the most efficient of its kind and the company was looking to develop the business into one of the major logistics operations in Europe.