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. […]
A company voluntary arrangement (CVA) at Elite Transport Services has been approved by 99% of its creditors.
Elite Transport Services has filed a proposal for a company voluntary arrangement (CVA) with Manchester County Court, ahead of a creditors meeting on Friday (8 February).
Newcastle-based David Price Food Services has secured a Company Voluntary Arrangement (CVA) that will see its unsecured creditors paid 38p in the pound on debts of about £2.1m. The arrangement, which the firm said was approved by more than 99% of creditors at a meeting on Wednesday 5 September, safeguards the jobs of 175 staff across seven depots. Company chairman David Price told MT he was relieved the firm had avoided falling into administration. “It has been a traumatic time […]