A Birmingham contract haulier that entered administration earlier this year went from a £1m pre-tax profit to a £100,000 loss in just 20 months’ trading. Contact Transport was suffering from creditor pressures and had fallen behind with its time to pay arrangement with HMRC when RSM Restructuring Advisory was appointed on 20 April . A report into the events leading up to the haulage company’s administration said the company reported steady profits for the years 2012-2014 and then a much […]
With Widdowson Logistics in administration once more, Motortransport.co.uk revisits the events that lead to the operator’s pre-pack in July 2016. Although incorporated in 1975, business conducted by former coal merchant AM Widdowson & Son can be traced back more than 100 years. Like any haulage firm with a few years on the clock there’s been plenty of ups and downs, but for this Leicestershire outfit it’s been a particularly breathless few years. A stricken AM Widdowson was kept on the […]
Former Palletline member Orb Logistics owed unsecured creditors over £1.26m when it went into administration earlier this year, it has been revealed.
Key factors leading to Surfair Global Logistics demise were the owner’s inability to spend “sufficient time” at the business, due to a family bereavement, and an “unexpected trading loss” after inaccurate reporting of the company’s financial position.