Bardon, Leicestershire-based Premier Logistics (UK) has entered into a company voluntary arrangement (CVA). Rajnesh Mittal and Steven Stokes of FRP Advisory have been named as joint supervisors of the CVA. The struggling haulier has been seeking to restructure its finances in the face of a £5.7m shortfall to creditors. The final details of the CVA are unknown at present but in a letter seen by MT and dated 11 July, owner Lee Christopher described a period of ‘unprecedented financial stress’ for the business. […]
Aspray Transport secures lifeline and looks to the future as company voluntary arrangement is approved
Creditors of Aspray Transport have voted in favour of a company voluntary arrangement (CVA).
Latest figures show that Premier Logistics (UK) increased turnover by 2% to £10.2m as the haulier battled its way out of its Company Voluntary Arrangement (CVA).
Despite selling a majority share to Rico Logistics in January last year and exiting its Company Voluntary Agreement (CVA) early, Circle Express made a loss last year.