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. The Bollington-based haulage firm was purchased in a pre-pack deal by Kinaxia Logistics on 5 December, after earlier efforts to market the firm by Duff & Phelps attracted interest but no firm offers. The sale saved 50 jobs. According to BC Transport’s statement of affairs, Kinaxia Logistics paid £40,000 in […]
Transport and logistics operations at The Russell Group have not been affected by recent financial problems at group company Icetech Freezers, the firm has stated.
Creditors of collapsed parcel firm City Link are likely to receive just 1p for every pound they are owed, according to the company’s administrator.
Widdowson Logistics’ sister company Davis Haulage owed unsecured creditors £4.7m when it was placed into administration just before Christmas.