The administration of Manchester construction haulier Digway was precipitated by Stobart Rail withholding £317,000 from the company after its new management discovered it had overpaid by hundreds of thousands of pounds. The detail is included in a report to creditors from administrator Cowgill Holloway Business Recovery, which explained how a string of bad debts also caused cashflow problems to Digway. At its peak, the haulier was making revenues of £3.06m, but in late 2018 and early 2019, two bad debts […]
Japanese-owned Yusen Logistics UK saw pre-tax profits leap in its latest financial year helped by a new healthcare deal and rising demand for warehousing as healthcare clients stockpiled ahead of Brexit.
Bibby Distribution Services (Holdings) slipped into the red to the tune of almost £4m in the year to 31 December 2012, compared with a £4.5m operating profit the previous year.
“Historical mismanagement” combined with operating licence “issues”, Brexit and rising fuel prices led to Aspray Transport’s demise, according to a letter sent by the firm’s owners to its employees.