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 […]
With UK banks under constant fire for failing to lend to British businesses, it is refreshing to talk to a banker who is positively eager to work with UK operators. Graham Winslet is sales director of BNP Paribas Rental Solutions, a wholly-owned subsidiary of BNP Paribas, one of the strongest banks in the world (rated AA by Standard & Poor’s). He is responsible for growing the CV contract hire business, which currently owns around 15,000 CVs in France and the UK.
XPO Logistics is to operate the Waitrose distribution centre in Leyland on behalf of the John Lewis Partnership.
Cemex UK subsidiary Procon Readymix has installed Wheely-Safe tyre safety technology on two of its 32-tonne DAF multi-wheelers with plans to extend the roll-out to all of its 18-strong fleet this year.