A company voluntary arrangement (CVA) at Elite Transport Services has been approved by 99% of its creditors.
A creditors' meeting took place on Friday 8 February and a spokesman for the container haulier said that under the terms of the agreed deal creditors will receive 37 pence in the pound over a five-year repayment term.
Last week Motortransport.co.uk revealed that the north-west haulier had filed a proposal for a CVA with Manchester County Court on 23 January.
It is understood that the largest creditor is HMRC, which is owed some £1.5m.
Southampton
Last month it emerged that Elite had made all of its drivers at Southampton redundant after claiming that port container work for the company had plunged by 8%.
Operations at Elite’s former Felixstowe depot have also ceased following a downturn in volumes.
Both sites are still running containers for some customers on a subcontracted basis.
