Northwind Logistics Ltd
A haulier that looked solvent on paper. Three quarters of margin erosion after a lapsed fuel hedge, visible in the filings four quarters before the appointment.
What the data was telling us
Readings from The Gazette and Companies House, in the firm's final two years.
Lessons behind the liquidation
When the fuel hedge lapsed, a predictable cost became a volatile one, and a thin operating margin had no buffer left.
Three consecutive quarters of falling operating margin preceded the appointment, visible well before the cash ran out.
Balance-sheet comfort masked a working-capital squeeze that the filings had already started to show.
Road-transport companies that lost a fuel hedge and then reported three consecutive quarters of margin erosion entered an insolvency process within 12 months in 57% of comparable cases.
Every charge, every filing, every appointment, in one dossier.
Director histories across related entities, the full debenture instrument, creditor estimates, and the practitioner's record on comparable cases.