Creditors of collapsed parcel firm City Link are likely to receive just 1p for every pound they are owed, according to the company’s administrator. In its latest progress report, administrator Ernst & Young (EY) revised down the amount that non-preferential creditors should expect to receive. When it published its proposals for the administration in February, EY expected creditors would receive a dividend of 2p in the pound. However the administrator admitted that the final amount available to non-preferential creditors, including […]
The assets and business of Palletline Logistics (Midlands) were bought for £71,000 in a pre-pack deal in July by newly formed Global Logistics Central on the same day the former went into administration, according to administrator RSM Tenon.
Montgomery Transport founder Harold Montgomery has confirmed the demise of Birds Transport & Logistics, bringing the curtain down on a tough period for the well known Midlands firm.
More than 600 jobs at XPO Logistics are at risk after the collapse and subsequent sale of House of Fraser to Sports Direct, which has left the operator owed £30.4m.