Ferry firm handed multi million-pound contract from the Government despite having no ships has gone bust


THE ferry firm handed a multi million-pound contract from the Government despite having no ships has gone bust.

Seaborne Freight went into liquidation earlier this month, owing nearly £2million.

Seaborne Freight, which was given £13.8million by former Transport Secretary Chris Grayling despite having no ships, has gone bust

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Seaborne Freight, which was given £13.8million by former Transport Secretary Chris Grayling despite having no ships, has gone bustCredit: PA:Press Association

It was given £13.8million by former Transport ­Secretary Chris Grayling in 2018 to provide extra capacity in the event of a No Deal Brexit.

The contract with the Kent-based company was terminated last year.

Labour’s Shadow Transport Secretary Jim McMahon said: “The disastrous legacy of Chris Grayling lives on.

“Giving out a ferries contract to a company that didn’t actually have any ferries is the epitome of Tory incompetence and wasteful spending.

“Things don’t look to have improved under his successor.

The company will go bust owning nearly £2m – made up of £1.2m to trade and expense creditors, a £400,000 loan, £323,000 in directors loans and a £100 corporation tax bill to HMRC.

READ  Labour-led bid to block no-deal Brexit is defeated

Mr Grayling was recently hired as a “strategic adviser” to Hutchison Ports Europe earning £100,000 a year for just seven hours of work per week.

Jim McMahon Labour’s Shadow Transport Secretary said: 'The disastrous legacy of Chris Grayling lives on'

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Jim McMahon Labour’s Shadow Transport Secretary said: ‘The disastrous legacy of Chris Grayling lives on’Credit: Matthew Pover – The Sun
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