Hellmann Worldwide Logistics appears to be out of the woods after its German parent company completed its delayed refinancing exercise. The parent company has been in protracted negotiations with 11 funding partners to refinance a €159m (£125m) loan, which makes up 40% of the group’s total loans, for more than a year. Delays to the refinancing, which saw it breach two deadlines in August 2015 and May this year, prompted independent auditor Graham Neale to flag up his concerns about […]
The future of Hellmann Worldwide Logistics’ UK operation has not yet been ensured, with its German parent company still locked-in discussions with its lenders over a refinancing deal.
The future of Hellmann Worldwide Logistics rests on the success of a major refinancing deal being negotiated by its German parent company, the 3PL’s auditor KPMG has warned.
Hellmann Worldwide Logistics has leased space at Prologis UK’s new Apex Park in Daventry.