One of the country’s largest haulage companies is to cease trading, with the loss of almost 400 jobs.
College Freight, which operates as Target Express has been in business since 1988.
The decision to cease trading follows a move by Revenue to freeze the company’s bank accounts.
Target Express has several big name clients including A-Wear and Smyths Toys.
The company is also the main sponsor of the Tyrone Gaelic football and hurling teams.
But last night it confirmed its to cease trading with the loss of almost 400 jobs – around 300 of which are in the Republic of Ireland – the remainder are in the North.
Target says it has paid one million euro to the Revenue Commissioners – and owes an additional 300 thousand.
And it claims to have proposed a deal which would see it pay another 175 thousand euro off – however, it says the deal was rejected by Revenue.
Revenue has declined to comment.
