Target Express Ireland have ceased trading

frank gallagher

as of 5pm today

Kess73

Terrible news for the workers, but not a massive shock given that the company had not paid all it's taxes and owed over a million in unpaid taxes.


Is there a Limerick link to the story bar the depot in Limerick? I ask because I don't know where the company started off.

frank gallagher

Kess73 wrote: »

Terrible news for the workers, but not a massive shock given that the company had not paid all it's taxes and owed over a million in unpaid taxes.


Is there a Limerick link to the story bar the depot in Limerick? I ask because I don't know where the company started off.

i work(ed) for them kess, and your right no surprise at all, a bit of a shock
as i was in saturday working away

Funfair

Kess73 wrote: »

Terrible news for the workers, but not a massive shock given that the company had not paid all it's taxes and owed over a million in unpaid taxes.

400 jobs gone over a million quid only in Ireland..

FFS Just imagine how much it would cost to create 400 jobs let alone the social welfare payments to the 400 who are now out of work.

liammur

Funfair wrote: »

400 jobs gone over a million quid only in Ireland..

FFS Just imagine how much it would cost to create 400 jobs let alone the social welfare payments to the 400 who are now out of work.

Almost 400 people are to lose their jobs at Ireland's largest privately owned transport company College Freight after the company announced it had decided to cease trading.
1 of 2[URL="javascript:void(0)"][/URL][URL="javascript:void(0)"][/URL]College Freight operating as Target Express employs 390 people in Ireland and the UK

2 of 2[URL="javascript:void(0)"][/URL][URL="javascript:void(0)"][/URL]It's understood the company owed the Revenue Commissioners a sum in the region of €1m


The company which operates as Target Express employs 390 staff in Ireland and the UK
It's understood that the Revenue Commissioners placed attachments on the company's bank accounts last Friday, and that despite ongoing negotiations, the issues could not be resolved.
While College Freight did not confirm the scale of the debt to the Revenue, it's understood to be less than €1m.
As yet it's unclear whether the company will seek the appointment of a receiver, which could lead to the sale of the company as a going concern with at least some of the jobs being saved.
It's also unclear what impact the closure will have on logistics for client customers, who include large companies like Smiths Toys, L'Oreal and AWear.
The company's management expressed its deep regret at the decision to cease trading, and thanked staff and customers for their support over the past 24 years.
Target Express opened in 1988 and is Ireland's largest privately owned transport and distribution company with 12 operating depots throughout the 32 counties and 4 within the UK.
They also operate 4 logistics warehouses.

kilburn

surely with such a small liability it was daft to wind it up, revenue are normally good if you play ball with them

theblueirish

Think its much deeper than that, drivers had no wages in bank today, fuel cards had been cut off. A few depots were closed within the last few weeks.
Receivers are in some depots today, the depots in the north are expecting them tomorrow (bank holiday today).

ABEasy

theblueirish wrote: »

Think its much deeper than that, drivers had no wages in bank today, fuel cards had been cut off. A few depots were closed within the last few weeks.
Receivers are in some depots today, the depots in the north are expecting them tomorrow (bank holiday today).

When the Revenue put a power of attachment on an account it effectively shuts down a company. Any money in the account has to be paid to the Revenue and funds paid in also have to be paid to the Revenue, so drivers, etc not being paid is to be expected. On the face of it, looks like the Revenue shut them down (this is more common than you'd think).

kilburn

ABEasy wrote: »

When the Revenue put a power of attachment on an account it effectively shuts down a company. Any money in the account has to be paid to the Revenue and funds paid in also have to be paid to the Revenue, so drivers, etc not being paid is to be expected. On the face of it, looks like the Revenue shut them down (this is more common than you'd think).

Company should have engaged with revenue if it did not, revenue only put an attachment on someones accounts when they are taking the piss

osheen

kilburn wrote: »

ABEasy wrote: »

When the Revenue put a power of attachment on an account it effectively shuts down a company. Any money in the account has to be paid to the Revenue and funds paid in also have to be paid to the Revenue, so drivers, etc not being paid is to be expected. On the face of it, looks like the Revenue shut them down (this is more common than you'd think).

Company should have engaged with revenue if it did not, revenue only put an attachment on someones accounts when they are taking the piss

We had similar issues a few years ago with the revenue.
directors took out loans everywhere they could - firesale on some assets and they are still paying for it. over 20 people lost there jobs .
Yeah revenue are great to deal with.

miller50841

Soon there will be no genuine Irish companies left sad to see.

To all the workers very sorry to hear whats happened hope someone with a few quid can step in if viable.

frank gallagher

on a related note, target delivered to a lot of retail customers most of which
need deliveries every day, they too will be anxious with trying to get
replacement couriers

theblueirish

You can guarantee that Nightline, Fastway etc will be knocking the doors of all Targets customers tomorrow morning, the same was Target did when DHL anounced they were stopping some of their Irish services.

Clareman

Sorry to hear about your troubles Frank, I hope something pops up for you.

As has been pointed out, this hasn't anything to do with Limerick on it's own, there is also a thread in AH about it if people wish to discuss http://www.boards.ie/vbulletin/showthread.php?t=2056738527

liammur

kilburn wrote: »

Company should have engaged with revenue if it did not, revenue only put an attachment on someones accounts when they are taking the piss

This is a little related to the petrol thread, costs are making businesses unviable.