Creditors at airfreight haulier Circle Express unanimously voted to approve a company voluntary arrangement (CVA). The Slough-based logistics firm appointed turnaround firm KSA Group to devise a CVA to enable the business to carry on trading while it repays its debts over five years at a rate of 38.3p/per pound owed for unsecured creditors. In its CVA submission, seen by MT.co.uk, Circle explains how rising fuel prices in 2008 led to diesel costs outstripping the company’s fuel surcharge, set at […]
Panther is launching two new services to customers this month after a year of contract wins and the acquisition of a rival took its annual turnover close to the top of the two-man delivery food chain.
Palletline has revealed one of its founder members has gone to the courts to secure a company voluntary arrangement (CVA). Palletline Logistics (Midlands) is run by MD Bob Russett, one of the four founders of the original pallet network, Palletline Plc, which celebrates its 20th anniversary this year. Russett stepped down as chairman at Palletline Plc in 2005 to concentrate on his other interests. In a statement issued today, Palletline confirmed its member company had gone to the courts to […]
With Widdowson Logistics in administration once more, Motortransport.co.uk revisits the events that lead to the operator’s pre-pack in July 2016. Although incorporated in 1975, business conducted by former coal merchant AM Widdowson & Son can be traced back more than 100 years. Like any haulage firm with a few years on the clock there’s been plenty of ups and downs, but for this Leicestershire outfit it’s been a particularly breathless few years. A stricken AM Widdowson was kept on the […]