Former employees of a Sheerness-based car transporter that entered administration just before Christmas are now expected to be paid all the money they are owed. Staff at Eulos.EU were told by the administrator that they may only receive 14p in the pound after the company collapsed on 23 December 2019. But in its latest report to creditors, FRP Advisory Trading said it was now anticipated that the preferential creditors would receive 100% of their money, “subject to the level of […]
Lombard, the asset finance division of the RBS Group, is actively seeking funding opportunities in road transport, bucking the trend which has seen several lenders leave the market since 2008. Lombard’s head of commercial transport, Derek Pridmore, says it is not the case that operators looking to fund new vehicles have little choice but to use manufacturers’ captive finance offering. “We financed £250m of truck sales in 2011, making Lombard the biggest single funder of CVs in the UK,” he […]
A harsh economic climate, growing costs and rising customer resistance to rates increases all left Gloucestershire-based haulier CM Downton struggling to raise its profit level significantly, despite a 13.8% increase in turnover in the year to the end of June 2012.