The chairman of Elite Transport Services has said he has a “very strong desire” to turn the business around, after creditors voted to back a company voluntary arrangement (CVA) at the container haulier. Gary Bethnal told MT that the decision to enter a CVA, which was backed by 99% of creditors, who will receive 37 pence in the pound over a five-year term, was not taken lightly – but was preferable to a pre-pack administration. “It has been a tough […]
Two diesel laundering plants capable together of producing more than 15 million litres of illicit fuel a year have been discovered and closed in Co Armagh, Northern Ireland. Officers from HMRC and the Police Service of Northern Ireland found one plant hidden in a shed at a private address in Cullyhanna; while the other was discovered in an unrelated operation next to a private address in Middletown. Three tonnes of toxic waste – a by-product of the laundering process – […]
Despite the high-profile collapse of Deben Transport last month, the amount of insolvencies overall in the transport and haulage sector is rapidly declining year-on-year.