Major sugar beet haulier M and J Haulage collapsed into administration due to a heavy reliance on finance to fund investments, low margins and the prospect of less work from British Sugar, according to KPMG. The Lincolnshire company appointed administrators on 12 October after it was informed by British Sugar of a “significant reduction in the contract volumes”, which was to take effect in April 2018. The move compounded the financial problems M and J Haulage was already experiencing, raising […]
The future of Hellmann Worldwide Logistics’ UK operation has not yet been ensured, with its German parent company still locked-in discussions with its lenders over a refinancing deal.
M and J Haulage, a major sugar beet haulage contractor, has been placed into administration prompting concerns among growers that they’ll struggle to find another company to harvest and deliver the crop.
The transport and logistics sector is set for a flurry of mergers and acquisitions this year, according to advisory firm KPMG, following a year of subdued activity in 2011. Steffen Wagner, European head of transport transactions at KPMG, says: “This year certainly took off to a promising start. Many companies, particularly in the logistics segment, are sitting on full coffers and are ready for increased strategic acquisitions.” He adds that any activity will rely on three main factors: GDP development […]