CVA at Circle Express


 

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 […]