Aspray Transport’s Company Voluntary Arrangement (CVA) will see £1.9m of debt to certain creditors being written off as well as redundancies, motortransport.co.uk can reveal. The haulier, which trades as Aspray24, was acquired by Lee Bushell’s Bushell Investment Group via holding company Bullamasay XL on 5 March. A decision to propose a CVA was taken shortly after, when its new owners concluded that the haulier would not be able to pay its debts as they fell due. This was despite the […]
A shortage of drivers, the introduction of Driver CPC and a drive to improve its services saw Aspray Transport’s pre-tax profit fall in the year ended 30 June 2016, despite turnover growth of more than a third.
Aspray Group has been acquired by Bushell Investment Group for an undisclosed sum.
Palletline has revealed one of its founder members has gone to the courts to secure a company voluntary arrangement (CVA). Palletline Logistics (Midlands) is run by MD Bob Russett, one of the four founders of the original pallet network, Palletline Plc, which celebrates its 20th anniversary this year. Russett stepped down as chairman at Palletline Plc in 2005 to concentrate on his other interests. In a statement issued today, Palletline confirmed its member company had gone to the courts to […]