AM Widdowson & Son’s administrator, Leonard Curtis, is pursuing the sale-guarantor for arrears relating to last year’s deal, according to a progress report. AM Widdowson & Son was sold in a pre-pack deal for £2.5m to Widdowson Logistics last year, a business “associated by the common ownership” of HLD Group. A non-cash consideration of £2m was satisfied via the sale of book debts and goodwill. This left a cash consideration of £176,000 to be paid in instalments, the final of […]
The Widdowson story has taken another twist with the revelation that, after its latest pre-pack administration, the Leicester-based haulier entered into service agreements with individuals associated with the failed business.
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.
Glenfield Storage Solutions, a successor company to failed Widdowson Logistics, remains a going concern despite net liabilities of close to £98,000.