Car transporter company Drive Force (UK) had only just returned to profitability after experiencing 18 months of cash flow difficulties, before Covid-19 forced it into administration. The detail is included in a report to creditors explaining how the Avonmouth-based business, which had been trading since 1999, was forced to close its doors for the last time in June with the loss of 47 jobs, including 32 drivers. Administrators Paul Wood and Simon Haskew at Begbies Traynor said that they had […]
Canute Group, which is due to shut its doors this week (21 December), was unable to demonstrate financial standing, MT can now reveal.
Turnover at Boughey Distribution fell during the first half of its current financial year, after the loss of a customer was not offset with enough new business. In a statement issued today by parent company NWF Group covering the six months ended 30 November 2012, it was revealed that turnover at Boughey Distribution fell 17.5% to £18.9m (2011/12: £22.9m). Boughey Distribution was hit particularly hard by the loss of a contract with AB World Foods in the period, which caused […]