Premier Logistics (UK) made a £2m loss in the months following its company voluntary agreement (CVA), according to its most recent financial results. The struggling haulier restructured its finances in 2018 via a CVA in the face of a £5.7m shortfall to its creditors. Under the terms of the agreement, Premier Logistics (UK) will make monthly contributions for up to five years, totalling £2,040,000. For the 10-month period ending 31 October 2018, the company’s turnover was almost £10m, but it […]
With Widdowson Logistics in administration once more, Motortransport.co.uk revisits the events that lead to the operator’s pre-pack in July 2016. Although incorporated in 1975, business conducted by former coal merchant AM Widdowson & Son can be traced back more than 100 years. Like any haulage firm with a few years on the clock there’s been plenty of ups and downs, but for this Leicestershire outfit it’s been a particularly breathless few years. A stricken AM Widdowson was kept on the […]
Tyne and Wear-based David Price Food Services has gone into administration just over a year after entering a Company Voluntary Arrangement (CVA).
Creditors of Palletline Logistics (Midlands) have voted in favour of the company voluntary arrangement (CVA) applied for by the haulier last month. MD Bob Russett (pictured) told Motortransport.co.uk he had mixed feelings after approval of the CVA this week (16 May): relief that it had passed ensuring a future for the business, but disappointment that the action had been necessary. “We are trading profitability and intend to keep doing so,” says Russett. The Birmingham haulier’s cashflow problems stemmed from errors […]