A pre-packaged sale of Leicester transport firm AM Widdowson and Son was the culmination of a torrid two years that included the loss of contracts, under-estimated fuel costs and management systems that were not fit for purpose. The company entered into administration on 6 July (CM 21 July) after falling into arrears with its contributions under its company voluntary arrangement (CVA), which had seen it pay creditors 36p in the pound since July 2015. A letter to creditors from administrator […]
BC Transport owed almost £1.5m when it was placed into administration earlier this month, and unsecured creditors are unlikely to recover any money despite the subsequent sale of the business.
Standards of compliance remain a pressing problem in the light commercial vehicle sector, judging by a recent crackdown on the M4 in which more than 100 fixed penalties were issued for a range of road traffic offences.
Firms that worked for Simpsons Logistics are owed around £837,000 but the company’s administrator believes unsecured creditors will still recover some of their money.