News - 8 March 2010
Two Felixstowe hauliers enter administration
LM Logistics and Syntex Logistics, two related Felixstowe-based transport firms, have been forced into administration by the firm providing their invoice discounting facilities.
The running of both operations was handed over to accountancy firm Chantrey Vellacott last Friday (26 Feb), which is looking to sell both businesses. One of the two firms, LM Logistics, was already operating under a Company Voluntary Arrangement but "cashflow issues" have brought on the administration, according to director Tony Barnes. He adds: "We are hoping a deal can be done, we are doing all we can to rescue them. We need new investors to come onboard to give them the financial strength. "This is not something that we have done lightly and it is the last thing that we wanted to happen. I'm just trying to save 150 jobs at the moment." Syntex is a container haulier while LM Logistics specialises in forwarding and logistics services; between them they are licensed for just over 80 vehicles. It is understood that Syntex Logistics may be snapped up by fellow container haulier K&M Haulage, however its director, Karl Harrison, declined to comment. Source: Roadtransport.com
|
