Cardiff haulier Rhys Davies suffered a 50% fall in revenue with losses mounting to £3.5m in the year after it was bought by Cathay Investments, motortransport.co.uk has learnt. The haulier went into administration earlier this month just one year after its acquisition by Cathay Investments, after accruing “significant and unsustainable” losses. Joint administrators Ian Vickers and Philip Harris of FRP Advisory said the losses had been exacerbated by the impact of the Covid-19 pandemic. This week, potential bidders for the […]
European Automobile Manufacturers Association calls for urgent EU action to avoid “irreversible damage” to sector
The European Automobile Manufacturers Association (ACEA) has warned that the COVID-19 pandemic will have grave consequences for the transport and logistics sector without urgent action at national and EU level.
Leicester-based packaged chemicals logistics provider HW Coates Holdings has described its financial performance in the year to 31 December 2012 as “satisfactory” – despite raising its profit before tax by 34% over the previous year.
New HGV registrations plummeted by more than 32% last year, according to SMMT figures.