A company voluntary arrangement (CVA) at Elite Transport Services has been approved by 99% of its creditors. A creditors’ meeting took place on Friday 8 February and a spokesman for the container haulier said that under the terms of the agreed deal creditors will receive 37 pence in the pound over a five-year repayment term. Last week Motortransport.co.uk revealed that the north-west haulier had filed a proposal for a CVA with Manchester County Court on 23 January. It is understood […]
Further information has emerged regarding events at Leicester haulier AM Widdowson & Son ahead of a meeting of creditors of on 3 July ahead of a proposed CVA.
Wincanton has become the first haulier to move containers off the quay at London Gateway, despite the port not officially being open for business.
Roadways Container Logistics has returned to profit despite a fall in turnover and a warning that rates in the market remain depressed. For the year ended 31 December 2011, Roadways achieved a pre-tax profit of £319,000, compared with a pre-tax loss of £697,000 in the previous year. Turnover, however, fell to £43m, from £49.3m in 2010; gross margins also rose from 11% to 15%. At the same time it took a £296,000 hit on restructuring charges, investing in IT and […]