Gulliver's Truck Hire into administration with 300 job losses

The firm has made more than 300 people redundant

More than 300 people are to be made redundant after a truck hire firm was placed in administration.

Gulliver's Truck Hire has operated from Bristol since the 1960s and currently has a fleet of 4,500 trucks.

Administrators KPMG said all employees would be paid their December wages as normal.

A spokesman said it was "very difficult" to see a family business end trading but efforts to turn it around had failed.

A total of 311 people will lose their jobs.

'Significant challenges'

David Pike, from KPMG, said: "Unfortunately, the Gulliver's team faced significant challenges in tough market conditions.

"Despite efforts to deliver a turnaround and reposition the business, further losses have been incurred.

"This has impacted cash-flow and led to the directors taking the difficult step to appoint administrators.

"We have worked with stakeholders to ensure that outstanding wages can be paid.

"We will also be carrying out a very short period of trading to facilitate a number of vehicle sales, which will enhance the return to the company's creditors."