Sad to hear, never good to see local businesses in hardship and feel for anyone involved, especially employees with Christmas around the corner. The impact of 10% inflation has been brutal.

We stand with you Olly Magnus

Yes, totally agree USA, Olly and his team are a brilliant group of individuals, many who are loyal fans of ITFC and have been life long season ticket holders. I hope for only very positive news.

Very sad news. Olly is a lovely guy - I hope he's ok, and that somehow the company can be saved, to protect the employees.

Very sad news. Best wishes to everyone involved with Magnus and thanks for your investment in the club

Currently haulage firms up and down the country are going out of business.
A mixture of huge operating costs.
Very soon Stobarts and Amazon will be the only UK based Hauling on the road. The rest made up of EU truck and driver.
The push from Gov.uk for more rail freight the final nail…..and sadly many more Ipswich/Felixstowe jobs in warehouse/haulage will soon follow Magnus.

Does anybody have any idea what the sponsorship deal would have been worth to the club?

Very sad news for all the employees. Never nice to hear of local business going this way. I wish you all a brighter future.

I do completely applaud all supportive posts here.Sad news. My only wish for this country and all local businesses is to turn the corner like ITFC. It's coming if you make your vote count in a year!

It's extremely sad to see a local business struggling like this and I feel for all the employees and their families especially at this time of year.
In relation to the comment by @dusth I would say this isn't the forum for politics and if you think it would be any better under a different bunch I think you would be sadly mistaken. They're all as bad as each other.

Can’t agree more with carsey point above, this is not the forum for politics (they are all as bad as each other), this is though absolutely the right place to provide support to a local business who backed our beloved club in its darkest times. I hope there’s others out there who will provide them with the same support and kindness in their own darkest hours.

Here’s hoping Magnus can have a similar rise back up as Town have experienced.

Keanos Barmy. I would have said a huge deal all in….Magnus brand was promoted across the club, they occupied the prime half way line suite.
Until very recently Magnus paid an experienced Class 1 Artic driver £12.50 per hour. Magnus only gave drivers the Lay-by over night parking option. Not the £300 per night few and far between lorry park with bare basic facilities option.
No driver facilities provided back at Magnus base for drivers.
So….Magnus paid there business key staff £12.50 per hour. Driver responsibility’s namely being the one in control of the 44 tonne killing machine…..and possible £500,000 value load that you sleep alongside in the deserted Lay-by.
However after much screaming and shouting they recently put up drivers money to £13.75 per hour.
They always struggled to recruit drivers……as more could be earned stacking shelves or cooking burgers. Sadly not the worst by far company to work for. RIP UK Haulage.

Sad state of Britain in 2923, and Post Brexit.
Many more Companies will be going the same way in 2024 - Sadly but inevitably !!

Unfortunately it’s UK.Gov decision making and lack of, that’s created many problems.
Relevant to the above page. .Gov created driver shortage. Driving up wage costs. Massive increases in costs of fuel, insurance. No .Gov assistance. Billions wasted by .Gov on training boot camps, 80% not now in HGV driving jobs. And driver facilities nationwide now in more dire state than ever.
The decision by .GOV to relax laws to EU drivers and EU hauliers to work in the uk. The final nail for outfits like Magnus. There never has been a driver shortage. Only a shortage of drivers willing to work for £13 per hour.

Very sad indeed.
In my job up until very recently I received calls from the Magnus sales rep a couple of times each week for months asking for work, which unfortunately we didnt have for them...now I know why they were very persistant...however, unfortunately I dont think they're alone talking to other logistics companys I deal with...all very sad.

To sponsor the west stand I'm guessing is one hell of a lot of money!
Was never going to get that back in marketing terms! But maybe that was the point! He/they just wanted to support the club!
I hope the magnus group comes out of this! Recession is kicking in!
Construction sites have slowed right down! Many sites have been mothballed already and subcontractorgangs laid off

When construction slows down I beleive it is an indicator on how the economy is! And many other business start to slow! I have been through 3 resessions with different governments and @dusth sorry to burst your bubble it ain't got nothing to do with politics but the massive global markets add in few wars,oil prices,agriculture or natural disaster,more recently worldwide covid there you have it! That's what I think anyway
I shall be glad when this international break is over! So boring without leauge football

This is not a political site BUT...... lol

The haulagelogistics sector has operated on extremely small margins for decades. Unfortunately the Magnus Group are a victim of these small margins, with massive overheads and operating cost, it doesn't take much to tip a company over the edge.

Terrible terrible news for the owners, staff and their families, especially so close to Christmas. Lets hope the administrators are successful in finding a new owner, probably one of the big boys.

Very sad news. Olly is a huge fan and we should all be appreciative of what he has done. He will be going through an incredibly difficult time right now so i hope he is OK. COYB

Bottom line .Gov want’s lorries of roads and more and more freight moved by rail. Which is all good for train drivers who have amazing t&c,s. £60k for a 38 hour week. A few buttons to press. And zero driver responsibilities if something goes wrong. Where as Class 1 HGV drivers go to work daily on just above minimum wage. With daily risks of prison sentences upto life sentence if something goes wrong.

Great local firm, full of Town fans, really sad news.
Obviously do not know the ins and outs of what has happened, been in business myself not always easy,
Hope a good buyer is found and jobs are saved, or perhaps some additional funding is approved
Going into admin, does not necessarily mean the end of a business.

I take it you’re an ex or current Artic driver Nomore4?

FWIW, I under Magnus senior left his son absolutely nothing in his Will when he died suddenly a few years ago, stating his son needed to make his own way in life ( like he had too), and wouldn’t be given him a leg up. This is despite owning a £multi million business. Which I find harsh in the extreme.

Shipping is an extremely cut throat business and Olly learnt his trade working within that sector as a young boy,( he worked alongside my friend). So to suddenly be charged with the control of the Magnus group was a tall order … and then CoVid hit!

I am aware of some of the issues faced by our heavy truck drivers, bringing in legislation which meant drivers if 30 yrs experience suddenly having to stump up £3-4K? To take basically an HGV driving test to a specific level ( EU driven?) to allow them to continue working. Many drivers of a certain age with all that experience just stopped driving .

FWIW I understand TOTALLY because in my sector of work I have over 25 yrs experience, have studied all my working life (it’s called continuing professional development- CPD which includes undertaking Degrees) to facilitate my continuing working in that sector , yet some tossa in Gov decided last year these were now “ invalid” and I have been forced to do this level of education all over again - I’m 65!! I love doing my job but they’ve made it now almost impossible for me to work, just because some tossa wants to reinvent the wheel. So that’s 25yr+ experience being forced off the frontline.

The (THIS) government aren’t fit for purpose and are ruining lives and this Country.

Babk to Olly & Magnus Group. I wish him well snd I hope the administrators can sort something out for him and his staff …. It’s Christmas soon, a job would be a nice present for him and his family I think!

Sad to here but please let the new sponsor be pioneer.

The Ed Sheeran Stand it is then!
Only one with any money left.