Britain's oldest shipping firm, Stephenson Clarke Shipping Ltd, has gone into liquidation after nearly 300 years of trading, becoming a casualty of the worsening global downturn.
Established in 1730, Stephenson Clarke had tried to sell its ships and cut costs in the face of crashing rates for dry bulk shipping on which it relied - transporting cargoes such as coal, grain and iron ore. But liquidator Tait Walker was appointed on August 3, the company and liquidator said in a statement.THE GLOBAL ECONOMY IS BAD AND GETTING WORSE.
UPDATE: SCOOPED ED DRISCOLL ON THIS - HE HAS MORE.
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