£5.7 Million shortfall someone isn’t getting paid
Not exactly the first time For a certain director either…
Looks like they were in trouble in April even though their income actually rose from £16m to £24m. It does state they lost Pall Ex work and made two acquisitions both of which appear to have gone bump shortly afterwards. Not being in Pall Ex is going to hurt if pallets are your main source of income even if they then joined Palletforce who are one of the creditors (about the only secured one by looks of things). Not sure if other palletforce companies get paid by PF or rely on the partners paying up?
motortransport.co.uk/blog/2018/ … unce-back/
Suspect some forensic accounting might be required here if they go under especially into how they manage to messup with so many companies and still keep directorships. Not a great place to be working currently.
What will happen at Thatcham? I know K&N stopped using them last year but thought they still seemed to be in business
Got a yard in Huddersfield too,only advertising for drivers last month,i’ve seen them pulling maritime trailers in the past.