Creditors of Aspray Transport have voted in favour of a company voluntary arrangement (CVA). The full details of the CVA have not been released, but Aspray owner Bushell Investment Group said 99% of the company’s trade suppliers had supported it, representing a clear “reflection of their support of the proposed turnaround strategy”. It added that the CVA would be completed in six months or less and “trade suppliers will be paid in full on their normal trade terms”. Following the […]
An 11th hour plea by the new owners of Aspray Transport, days before it went into administration last month, that its operating licences be surrendered rather than revoked, to avoid “negative connotations”, was rejected by the traffic commissioner who ruled that it “must have been abundantly clear” during due diligence that the firm had insufficient funds to qualify for the eight licences.
Aspray Group founder Pat Laight has severed ties with the business after its new owners, Bushell Investment Group, applied for a company voluntary arrangement (CVA), motortransport.co.uk can reveal.