The owner of Target Express, the haulage company which ceased trading yesterday with the loss of 390 jobs, has strongly criticised the Revenue Commissioners.

Seamus McBrien says that Revenue effectively froze his bank accounts over a debt of less than half a million euro.

Mr. McBrien said the company had paid revenue €214,000 last Monday and had offered to pay a further €80,000 by Friday.

He said however that Revenue had attached their accounts on Thursday making it impossible to pay staff.

Seamus McBrien said Target Express, last year's haulier of the year, had been on course for profits of up to €1.6 million this year.

However, rising fuel and insurance costs as well as suppliers restricting credit terms had put the company under pressure.

Mr. McBrien voiced concern about the impact on employees, suppliers and customers but could not say how much creditors would lose.

Asked whether there were issues with tax authorities in Northern Ireland, he said there were none that he knew of.

The Revenue Commissioners will not comment on individual cases.

Meanwhile, 18 workers have commenced a sit-in at a Target Express depot in Cork.

They're angry at the lack of information from the company, and at the failure of politicians to intervene to save the jobs. It's unclear if the sit in will spread to other depots.