UK firm put into insolvency with over £600,000 unpaid debts - started in 2016

A UK-based freight business found that allegedly built up hundreds of thousands of pounds in unpaid debts has been shut down. Malcolm Wright Associates Limited, a firm founded in Leeds in 2016, was wound up following an investigation by the Insolvency Service, which claimed it “discovered unpaid debts totalling hundreds of thousands of pounds owed to companies in the United States, Europe and the UK”.

The agency alleged that they launched the probe “after concerns were raised about its trading activity which were found to have caused substantial losses to overseas freight businesses”. It claimed evidence "showed the company had presented information which appeared to give it credibility with international freight businesses, including membership of the JCTrans network, before running up significant unpaid debts".

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. Read our Privacy Policy

The agency alleged that between August and October 2024, "the company incurred freight costs with at least 16 JCTrans members and failed to make payments". It claimed that the unpaid debts "included more than US $508,000, €334,000 and £25,000".

That would amount to over £680,000 at current exchange rates.

“The company failed to cooperate with investigators, has no current director or person with significant control, and had failed to file its latest accounts and confirmation statement,” the Insolvency Service claimed.

The firm was company was wound up in the public interest following a hearing at the High Court in Manchester on August 11, 2026.

David Hope, chief investigator at the Insolvency Service, said: “Malcolm Wright Associates Limited gave the appearance of a credible trading business while leaving suppliers – including those in the United States and Europe – with substantial unpaid debts.

“The company failed to cooperate with our investigation, could not be located at its registered office, and provided no evidence to explain its trading or financial position.

“We will take robust action where companies appear to be used to mislead suppliers, avoid debts, or operate without proper transparency.

“Winding up this company protects the public and helps prevent further harm to businesses.”