The effects of a major fire that destroyed ArrowXL’s Worcester hub in 2017 are continuing to reverberate through the business, with the company reporting a 92% fall in pre-tax profits last year. In its latest annual results to 30 June 2019 the Yodel sister company, which specialises in two-man delivery and installation services, revealed a 92% pre-tax profit plunge to £62,000 (£862,000), despite turnover rising to £88.2m (2018: £78.1m) in the period. EBITDA fell to £3.2m (2018: £3.6m) in the […]
Felixstowe-based Searon Logistics has entered administration after its largest customer moved to Southampton, causing a significant increase in costs.
Panther Warehousing has completed a management buyout (MBO), backed by private equity firm Lloyds Development Capital (LDC).
The rise in online shopping and courier activities over the last decade means there are now 11 local authority districts in the UK where transport and storage has become the dominant industry, official figures reveal.