Jersey-based freight group Channel Island Lines has closed down with immediate effect as a result of the Covid-19 pandemic.
The closure includes the company's subsidiaries, Rockayne Jersey and Paul Davis Freight Services. Thirty people in Jersey and 12 in Guernsey will lose their jobs.
Chief Executive Andy Jehan said in a statement: "Due to very difficult trading conditions, as a direct result of the impacts of Covid-19 on current and forecast volumes and cash flow, the boards of directors of all Channel Island Lines group companies, including Paul Davis Freight Services, have concluded that they have no alternative but to cease operations with immediate effect.
"Customers with goods at depots in Jersey, Guernsey, Bristol and Southampton are being contacted to give them access to collect their goods."
Grant Thornton has been appointed to wind up the business.
According to Channel 103, Jersey's Consumer Council has called on the government to intervene and protect freight links during the coronavirus pandemic.
Consumer Council Chairman Carl Walker told the channel: "This has the potential to see a price rise across the island, across all goods. Government needs to step in and secure lifeline delivery routes and ensure that pricing is fair and isn't going to impact the economy at this desperate time."