More than jobs have been saved following a deal to rescue a longstanding East Yorkshire haulage company. BI Halder and Son Ltd, which has been in operation for over 50 years in Driffield,, called in administrators earlier this month after facing financial difficulties due to cost inflation in recent years.
The firm, located on the Cranswick Industrial Estate, reportedly faced pressure due to the Covid pandemic and the war in Ukraine, both of which led to increased fuel and operating costs. Rising interest rates also put a strain on the business, leading to cashflow challenges.
Administrators from insolvency firm Leonard Curtis were brought in this week after a refinancing deal failed to resolve the cashflow issues and save the business. A pre-packaged sale out of administration was agreed with Halder Transport and Storage Limited, also managed by BI Halder directors Louise and Paul Halder, securing 45 jobs.
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Louise Halder stated: "Our priority was to retain our loyal workforce and continue providing high quality haulage and storage services for our customers. Building in resilience for future challenges has also been important. She added: " She added: "While it has been devastating dealing with the loss of B I Halder and Son Ltd after nearly 25 years of operation and over 50 years since the business was first formed, we are all looking forward to a new chapter for Holder Transport and Storage Limited."
BI Halder and Son Ltd was established in 1969 by Brent and Ann Halder, who began with a single vehicle making local grain deliveries, reports . By 1979 it had expanded to include a second vehicle, continuing their growth trajectory until they operated a fleet of 24 lorries nationwide.
During the early 1980s, the company developed storage facilities featuring drying and testing services with a 46,000-tonne capacity, consisting of silos ranging from 500 tonnes to 1,000 tonnes. Paul and Louise Halder took control of the enterprise a decade ago through a management buyout.
Joint administrator Sean Williams said: "BI Halder and Son Ltd had established a great reputation over five decades and by facilitating a successful sale we have protected jobs and maximized realisations for the company's creditors."
Having handled his third haulage firm since May 2025, Mr Williams noted that most SME hauliers are operating under considerable pressure.
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He added: "The sector remains essential and busy, but most are running businesses with higher operating costs, on thin margins, and a rising number of insolvencies indicate performance is fragile rather than robust.
"A minority of hauliers, those with strong contracts, niches, cleaner fleets or some digital advantage, are doing better. Overall, we should expect continued pressure and gradual consolidation unless economic conditions or targeted policy support materially improve."