A FAMILY-RUN Scottish haulage firm has gone bust with dozens of jobs lost.

AAD Transport, which is based in Kirriemuir in Angus, was looking for a buyer in order to continue operations after 13 years in business.

But administrators Begbies Traynor have announced today (February 23) that a sale was not possible due to “challenges” within the existing business model, with the loss of a total of 65 jobs confirmed.

READ MORE: Sixty jobs 'at stake' as family-run Scottish haulage firm enters administration

Partners Thomas McKay and Ken Pattullo at Begbies Traynor said: "Unfortunately, the company has ceased trading and the administrators’ priority is to continue to provide all employees with all necessary assistance to advance their redundancy claims and work with the Redundancy Payments Service.

“We have also engaged with the department of Skills Development Scotland’s Partnership for Continuing Employment, to ensure all employees have the required support available to them.

“The administrators and their agents are in the process of realising the company assets to maximise value for the creditors of the company.

“The haulage sector continues to have challenges that are sector wide, including high fuel and related costs, often carrying legacy debt/tax arrears, whilst competition for new orders and work is fierce.

“The net impact is low profit margins which will inevitably impact on cash flow. If any other firms in the sector are affected by similar circumstances and require assistance, we are available to assist should they require independent advice.”

The family-run business offered haulage services across the UK, with some services for regions of Spain and France.