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 […]
Bibby Distribution has become the latest operator to commit to a fleet refresh, with MAN set to deliver a total of 450 TGX tractors to the business during the next 18 months. An initial 55 Euro-5 units have already entered service in the Bibby fleet, with 131 scheduled for delivery in September. The remaining 264 TGX 440s will be presented throughout 2013. All units are fitted with Microlise telematics, so by the end of next year the whole Bibby fleet […]
Eddie Stobart drivers facing redundancy at Tesco’s Doncaster DC look set to commence a second period of strike action next week, after talks between the operator and union Unite broke down. Unite rejected an improved severance deal for its 180 member drivers tabled at talks on the 19 October, despite Eddie Stobart claiming the enhanced package was worth an additional £1m. Further talks had been expected towards the end of this week but have now collapsed against the threat of […]
The impact of the COVID-19 outbreak could see suppliers going direct to hauliers for warehousing and scrapping their own to cut costs, according to an East Midlands operator.