Just one year after being bought by Cathay Investments, Cardiff haulier Rhys Davies has gone under after accruing “unsustainable losses” during the Covid-19 pandemic. Ian Vickers and Philip Harris, partners at business advisory firm FRP, have been appointed joint administrators to Rhys Davies & Sons today (8 December). In a statement the auditors said Rhys Davies, which was founded in 1952, “had been acquired by Cathay Group after a long period of losses and despite significant investment from its owners […]
The RHA has welcomed the smooth flow of traffic at Channel ports, following the UK’s exit from the EU on 1 January, but warned that the real test will come later this week as freight volumes return to normal, complicated by the need for truck drivers crossing into France to have tested negative for Covid-19 no more than 72 hours previously.
Swindon’s Les Smith Haulage has joined Palletways and will provide services across Wiltshire, Oxfordshire and Berkshire for the network.
Losses at the company which operates the M6 toll road continued to mount last year as the volume of traffic using the route fell.