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 […]
Fakenham, Norfolk haulier Jack Richards & Son has reported a 56% rise in pre-tax profit, and £2.3m rise in turnover, for the year ending 31 May 2012. The firm said the increase was down to a number of factors, including a slight hardening in rates, successful efforts to improve fuel consumption, a fortuitously-timed Christmas break and a number of new contracts that helped cut empty running. Turnover at the vehicle operator rose almost 9% during the year, from £25.6m to […]
The future of Hellmann Worldwide Logistics’ UK operation has not yet been ensured, with its German parent company still locked-in discussions with its lenders over a refinancing deal.
TNT Express said it does not expect to see the full benefit of its profit improvement strategy until 2018-19, as it admits it did not acheive the turnover and profitability it expected in 2014.