Palletways bought member company Systematic Logistics International (SLI) for just £100,000, the firm’s administrator has revealed. The company, which had an annual turnover of approximately £10m, was sold via a pre-pack administration in November. The move saved one of the pallet network’s longest serving haulier-members and protected 64 jobs – consisting mainly of drivers and administrative staff – all of whom transferred via Tupe to new owner Palletways. In a report to creditors, administrator FRP Advisory said SLI’s problems could […]
The future of the Principle Pallet Network is in the balance with an investors meeting due at the end of this month to decide its fate, MT has learnt.
Pallet networks are continuing to carve out a greater share of the parcels market, delivering record half-pallet volumes and next-day deliveries this year, according to the Association of Pallet Networks (APN).
Palletways has appointed former SIG finance director Richard Myatt as group finance director at the network, replacing Andrew Reynolds.