Dozens of Isle of Wight jobs are at risk after it was announced last week that the Steve Porter Transport Group (SPTG) had gone into administration.
The Isle of Wight transport group, which was established in 1981, was sold in four years ago and merged with the 158-year-old haulage firm, Knights of Old.
Ransomware attack
However, earlier this year, KNP Logistics — the parent company of Knights of Old — suffered a major ransomware attack in June, severely affecting their key systems, processes and financial information.
This has resulted in significant financial deterioration, forcing them to enter into administration.
SPTG staff temporarily retained to assist with administration process
Rajnesh Mittal and James Prior of FRP Advisory Trading Limited have been appointed as administrators and say that around 730 employees would be made redundant.
They added,
“The administrators and employees of Steve Porter that have been temporarily retained (not drivers) to assist with the administration process, will be making contact with customers as soon as possible.”
Finding alternative work
At the time SPTG was sold in 2019, there were around 45 employees. News OnTheWight has been in contact with the administrators to find out how many staff will be affected. We’ll update once we hear back.
Some drivers have been offered work with other haulage firms, and as the business collapse was not due to a lack of work, hopefully everyone at SPTG will find alternative employment.
Source: BBC
