Widdowson Logistics’ sister company Davis Haulage owed unsecured creditors £4.7m when it was placed into administration just before Christmas.
A newly published joint administrators’ statement of proposals from Leonard Curtis also revealed that Buffload paid just over £1.8m for the business via a pre-packed sale on the 23 December.
The sale included certain plant, stock and leasehold property of the business, as well as goodwill, book debts and the business name.
It safeguarded 175 jobs at the Crewe-based firm and ensured staff received their December pay.
Davis Haulage, part of the Davis Haulage Group that owns administration-hit Widdowson Logistics, had been trading through a CVA that owner HLD placed it into two months after purchasing the business in 18 February 2016.
The statement of proposals shows that unsecured creditors were owed £4.7m at the point Davis Haulage was placed into administration. Leonard Curtis has estimated that unsecured creditors are unlikely to get their money back.
HMRC is owed more than £2m.
Collapsed Widdowson Logistics is understood to have been succeeded by Birds Transport Leicester.
