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. […]
Bedfords Group has been placed into administration and has ceased trading.
City Link’s administrators have made more than 2,300 staff at the failed business redundant.
Mergers and acquisitions (M&A) activity in the transport sector throughout the world is predicted to rise for the fourth consecutive year, according to a report from KPMG.