A Norfolk trucking firm has gone into administration after it said demand had fallen for haulage services. 

Lochace Ltd, trading as the Harleston-based Bomfords Group, will begin winding down today after more than 40 years in business. 

READ MORE: Why are there so many empty lorries on Norfolk roads?

The firm said it made the “difficult decision” after it became clear the business couldn’t continue due to “a downturn in the general haulage sector, coupled with the high interest rates”. 

Company owners said they had tried to find alternative funding options, but had been unsuccessful.

All staff at the company, which provides warehousing and goods transportation, will lose their jobs, although managing director Ian Howell said some would be asked to continue into 2024 to help wind the business down. 

READ MORE: Haulage firms are facing a challenging time as fuel prices reach a record high

He added: “All employees will be paid their usual December pay early as I am keen that everyone gets paid before Christmas. 

“I would like to express my sincere gratitude to everyone for the commitment, and in many cases, years of loyal service to Bomfords and its valued customers.”

The number of haulier firms going out of business in the UK has skyrocketed since 2020, with the rate more than doubling in the past three years.

It’s been blamed on the rising cost of fuel, plus reduced demand for goods making business more competitive.