Hundreds of jobs at one of the best-known haulage companies in the region are understood to be under threat as it is expected to go into administration.
Deben Transport is based at Felixstowe port and staff have been told that it is facing financial difficulties.
No one could be contacted at its headquarters at Fagbury Road in Felixstowe, but staff at its Manchester depot are expecting the arrival of administrators today.
A senior member of staff at Manchester depot said last night said he had been told at the weekend that the company had gone into administration.
Mark Dixon, senior transport operator in charge of customer services at Trafford Park, said: “I got a call at 10.30 on Saturday morning to tell people.”
When asked what he understood to be the reason for the business failing Mr Dixon said: “I was told the banks had pulled the plug and would not back it.
“I found it amazing there would be a phone call. I told my colleague and we came in on Sunday morning and rang all the drivers.
“We are waiting for the administrator to come here sometime tomorrow.”
Mr Dixon, who has worked for the company for 20 years, described the staff in Manchester as “bitter and angry” about the situation.
He added: “We have let customers down I have known all my life.”
The company was formed in 1987 by Paul Dawson, and grew significantly – it is believed to employ about 200 lorry drivers and have about 50 office staff. It is also thought to use a further 100 owner-drivers on freelance contracts.
Other haulage companies operating from the Port of Felixstowe are understood to have heard that the company had effectively ceased trading at the start of the week.
Around 50 people are said to work at Deben Transport’s Manchester depot.
The company’s distinctive yellow lorries were a familiar sight on the region’s roads and Mr Dawson was an eloquent spokesman for the haulage industry on major topics including fuel prices and the proposal to impose a toll on the A14 in Cambridgeshire.
The EADT was unable to contact Mr Dawson or directors of the company last night.
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