An online sale of assets belonging to an Oldham-based logistics firm that entered administration in June has raised around £45,000 – but creditors are still unlikely to be paid. NBS Transport collapsed with the loss of 20 jobs, due to cash flow difficulties “exacerbated by a significant law-margin contract and slow customer payments,” according to the administrator. The company provided pallet services, container freight forwarding and warehousing to the retail, manufacturing, construction and events sectors. An associated company, NBS (Oldham) […]
The government has rejected calls from two select committees for an urgent change in insolvency law, after the collapse of City Link last Christmas left sub-contractors and non-secured creditors £30m out of pocket.
The administrator of City Link has revealed that around 20,000 parcels remain in its network.