Unsecured creditors of failed Hull-based haulier AR Lunn Transport & Warehousing have received just 4% of the money owed to them, the firm’s administrators have revealed. In its final progress report covering the six months to 28 February, PricewaterhouseCoopers said it had paid just over £76,500 to unsecured creditors of the firm, which entered administration in early 2012 blaming rising fuel prices and other operating costs. That sum represented a first and final dividend of 3.99 pence in the pound. […]
No doubt about it, 2012 was incredibly tough for UK logistics operators. Profits were low, costs were high and obtaining credit to invest remained hard. The double-dip recession we all feared is in danger of turning into triple-fall and GDP growth was more sluggish than a snail on valium. Forecasts for growth in 2013 range from 1% by the Bank of England (BoE) to 1.4% by the Confederation of British Industry, with the BoE also predicting that it will be […]
Former City Link parent Better Capital has revised up the amount it expects to receive from its investment in the collapsed parcel carrier.