Own account operator Poundworld Retail has appointed administrators after talks with a potential buyer collapsed. The retailer, which has a fleet of 75 vehicles and 140 trailers delivering to 355 stores, has been struggling against the falling value of sterling, weak consumer confidence and rising competition in the discount retail sector. Poundworld Retail was in talks with potential buyer R Capital but after negotiations ground to a halt last week, the retailer appointed Deloitte’s restructuring partners Daniel Butters and Clare […]
Despite the high-profile collapse of Deben Transport last month, the amount of insolvencies overall in the transport and haulage sector is rapidly declining year-on-year.
Northern Ireland steel haulier Donnelly Transport struggled under the weight of a number of significant historical bad debts and increased operational costs in the run-up to its administration in September.
City Link’s administrator has revised up the amount it believes non-preferential creditors are owed by the collapsed parcel carrier. However, it said it is still waiting to hear from creditors that are owed a total of £12.8m that have not submitted a claim.