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 […]
Palletline Logistics (Midlands) has lost its battle for survival and ceased to trade.
A meeting of creditors of Leicester haulier A M Widdowson & Son will take place on 3 July ahead of a proposed CVA. Christopher Walton
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 […]