The liquidator for Seafield Logistics received unsecured claims of more than £7m. A liquidator’s progress report from Grant Thornton, published as the failed business enters the final stages of the insolvency process, revealed claims for £7.1m were made following the operator’s collapse in June 2014. Grant Thornton said in the report that the final payout to those affected creditors will be 18p in the pound, or £1.3m, with the liquidator having now finished the process of pursuing outstanding debts. The […]
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 […]
AM Widdowson & Son ended its days with a whimper, after a CVA and two pre-pack administrations left little more than a husk, a new progress report confirms.