Contract hire and rental firm Axis Fleet Management has entered administration and ceased trading. Insolvency experts at FRP Advisory were appointed to the company, with a head office in Long Hanborough, Oxfordshire on 10 May. In a statement from the administrators it said “challenging trading conditions resulted in cash flow difficulties and despite efforts to find a buyer for the business, a sale could not be achieved. “This left the directors no option but to place the business into administration. […]
The assets and business of Palletline Logistics (Midlands) were bought for £71,000 in a pre-pack deal in July by newly formed Global Logistics Central on the same day the former went into administration, according to administrator RSM Tenon.
By the time the Beast from the East had done its damage and spring was finally making itself known, official figures showed that there had been 574 insolvencies in UK logistics during the first three months of 2018.