A back-to-basics approach has helped Premier Logistics to successfully trade through its 18-month Company Voluntary Arrangement (CVA), the company has revealed. The haulier said it is now ready to compete on a level footing after restructuring its finances in 2018 via a CVA in the face of a £5.7m shortfall to its creditors. HMRC forced through a revision to the original terms, which would have meant the company making monthly contributions over five years. However, Premier Logistics said this term […]
Elite Transport Services has filed a proposal for a company voluntary arrangement (CVA) with Manchester County Court, ahead of a creditors meeting on Friday (8 February).
Newcastle-based David Price Food Services has secured a Company Voluntary Arrangement (CVA) that will see its unsecured creditors paid 38p in the pound on debts of about £2.1m. The arrangement, which the firm said was approved by more than 99% of creditors at a meeting on Wednesday 5 September, safeguards the jobs of 175 staff across seven depots. Company chairman David Price told MT he was relieved the firm had avoided falling into administration. “It has been a traumatic time […]