The liquidator for Seafield Logistics received unsecured claims of more than £7m. A liquidator’s progress report from Grant Thornton, published as the failed business enters the final stages of the insolvency process, revealed claims for £7.1m were made following the operator’s collapse in June 2014. Grant Thornton said in the report that the final payout to those affected creditors will be 18p in the pound, or £1.3m, with the liquidator having now finished the process of pursuing outstanding debts. The […]
Key factors leading to Surfair Global Logistics demise were the owner’s inability to spend “sufficient time” at the business, due to a family bereavement, and an “unexpected trading loss” after inaccurate reporting of the company’s financial position.
Abbey Logistics has bought the complete share capital of bulk liquid food operator Armet Logistics, creating a business with a combined turnover of £70m.
Abbey Logistics is targeting £25m to £30m in additional turnover within the next five years, taking its annual turnover to approximately £60m – as well as improving its profit margin to 3.5%, Motortransport.co.uk can reveal.