Pallet-Track is preparing legal action against the new owner of Canute Haulage Group over a £50,000 debt, MT can reveal. Canute was a Pallet-Track member and covered multiple postcodes including CA, LA, TD, DG and RM. However, Pallet-Track is understood to have served Canute its notice in March, ahead of its controversial pre-pack, over concerns regarding the service the member was delivering and poor communication. Canute was working its notice when it made its move to stave off insolvency via […]
A bad debt and the loss of its largest client set off a chain of events that sunk old Canute leading to a controversial rebirth in May, MT takes a closer look.
Circle Express has continued to trade successfully under a Company Voluntary Arrangement (CVA), achieving its second consecutive profitable year.
Creditors at airfreight haulier Circle Express unanimously voted to approve a company voluntary arrangement (CVA). The Slough-based logistics firm appointed turnaround firm KSA Group to devise a CVA to enable the business to carry on trading while it repays its debts over five years at a rate of 38.3p/per pound owed for unsecured creditors. In its CVA submission, seen by MT.co.uk, Circle explains how rising fuel prices in 2008 led to diesel costs outstripping the company’s fuel surcharge, set at […]