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 […]
Widdowson Logistics’ sister company Davis Haulage owed unsecured creditors £4.7m when it was placed into administration just before Christmas.
Davis Haulage, which was sold to Buffaload Logistics for £1.8m late last year, got into trouble after overextending itself, according to a report from administrator Leonard Curtis.
AM Widdowson’s unsecured creditors have been left almost £13m out of pocket after the pre-pack sale of the haulier in July.