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 transport and logistics sector is set for a flurry of mergers and acquisitions this year, according to advisory firm KPMG, following a year of subdued activity in 2011. Steffen Wagner, European head of transport transactions at KPMG, says: “This year certainly took off to a promising start. Many companies, particularly in the logistics segment, are sitting on full coffers and are ready for increased strategic acquisitions.” He adds that any activity will rely on three main factors: GDP development […]
The Canute Group, owned by Almtone, is expected to make an official announcement about its closure tomorrow afternoon.
Former employees of a Birmingham contract haulier now in administration have been ordered to pay almost £40,000 in costs relating to road traffic accidents.