Further information has emerged regarding events at Leicester haulier AM Widdowson & Son ahead of a meeting of creditors of on 3 July ahead of a proposed CVA. Insolvency practitioner Leonard Curtis has recommended that unsecured creditors are returned 36.12p in the pound as part of a CVA that has the backing of secured creditor Close Invoice Finance. It comes after HMRC issued a winding-up petition on 14 April – which was heard on 8 June – in respect of […]
The profitability of the Cartwright group was already on a “downward trajectory” before the advent of the coronavirus pandemic, with margins impacted by loss-making contracts, according to administrators.
A company voluntary arrangement (CVA) at Elite Transport Services has been approved by 99% of its creditors.
Wholesale drinks distributor Waverley TBS is being wound-up by its administrators after they failed to find a buyer for the business. The company, which has two large DCs at Punchbowl Park in Hemel Hempstead and Felling, near Gateshead, as well as smaller deports across the UK, was licensed to run more than 300 vehicles. These were operated via a combination of own-account and third party providers. As a consequence of the failure to find an outright buyer, 685 Waverley employees […]