The future of Hellmann Worldwide Logistics rests on the success of a major refinancing deal being negotiated by its German parent company, the 3PL’s auditor KPMG has warned. Parent company Hellmann Worldwide Logistics GmbH is in negotiations with 11 funding partners to refinance a €159m (£125m) loan, which makes up 40% of the group’s total loans. The refinancing was set to be completed by August last year but has been put back until the end of this month. In the […]
Howard Tenens remains confident that it is “well positioned” to grow its business, despite posting a 15.4% drop in pre-tax profit last year.
The future of Hellmann Worldwide Logistics’ UK operation has not yet been ensured, with its German parent company still locked-in discussions with its lenders over a refinancing deal.
NFT Distribution recorded a pre-tax loss in the 12 months to 2 April 2016 after exceptional costs of £7.1m, although the operator said it was now well placed to prosper.