ICSM Business Logistics News: Merseyside firm enter administration as KBL say unsecured ‘won’t be paid’ – plus we list recent logistic companies that have hit the buffers
By Harry Mottram: Optimum Logistics of Bootle and Speke has entered administration with the chilling news from KBL that unsecured creditors. The trade journal Motor Transport’s Chris Tindall has reported on the demise of the firm that was only established in 2019 but has hit the rocks as a result of lack of cashflow and financial assets.
He reported: “Optimum Logistics ceased trading in November 2022 despite its most recent financial results showing that it had returned to profit by the end of 2021. In a report out this month to creditors, KBL Advisory said it was approached by the company’s invoice finance facility provider, Bibby, after it had conducted a review of Optimum’s ledger, ‘which led to concerns over the recoverability of its outstanding liability.’”
The firm had a range of transport services, including temperature-controlled, flat-bed, container and tanker haulage and held an international operator licence.
KBL added: “The joint administrators think that the company has insufficient property to enable a distribution to be made to unsecured creditors.”
Chris Tindall also reported on the demise of Sam Carmichael Logistics that crashed on January 3, due to cash flow problems. The North Ferrilby firm in East Yorkshire had 18 HGVs and 21 trailers along with 24 workers who have all lost their jobs as Interpath Advisory wind up the business.
Meanwhile in better news Motor Transport’s journalist reported on how a pre-pack deal has been agreed at the struggling London-based courier firm Rush Worldwide that entered administration last year. He said 34 jobs were saved after insolvency practitioners Julie Partner and Andrew Hook negotiated the sale of the firm to Rush Europe.
ICSM lists by each sector the financial casualties in its regular news stories and newsletters.
Below is a list of logistics firms who have hit the rocks recently.
LOGISTICS: COURIERS, HAULAGE, ROAD, RAIL, SHIPPING, STORAGE
ADMINISTRATORS APPOINTED
ALLSEAS GLOBAL PROJECT LOGISTICS LIMITED 09635807
CORPORATE SOLUTIONS (LOGISTICS) LIMITED 03459849
OPTIMUM-LOGISTICS LIMITED 12323438
RUSH WORLDWIDE LIMITED 11248785
RYEDALE LOGISTICS LIMITED 11678177
CREDITORS’ VOLUNTARY LIQUIDATION DEEMED IN CONSENT MEETINGS
ALPHA CARGO LTD 12395912
CAMBRIDGE SHIPPING CONTAINERS LIMITED 11384382
KENTCO LOGISTICS LIMITED 07735998
SIGNATURE CAR HIRE LIMITED 08969896
LIQUIDATORS APPOINTED
AKAT LOGISTICS LTD 10500940
ALL WORLD FREIGHT LIMITED 02147085
ASSURED SAME DAY COURIERS LIMITED 12336236
BLACKFISH LOGISTICS LTD 07678334
EARLS REMOVALS LTD 09181052
DEX'S MIDNIGHT RUNNERS LTD 06364182
DYNAMIC LOGISTICS LIMITED 09471835
HARKERS TRANSPORT LIMITED 05707088
HK LOGISTICS LIMITED 09756957
KATZ COURIERS LIMITED 08835002
LTG DISTRIBUTION LIMITED 10255827
LIYANA LOGISTICS LIMITED 07750455
M ADE TRANSPORT LTD 11486295
M J A LOGISTICS LTD 11424729
MZ & F CAB SERVICE LTD 11762453
NATIONEL CHAUEFFEURS LIMITED 06791983
NVP VEHICLE RENTAL LIMITED 10940919
ONLINE WAREHOUSE LIMITED 05002244
PG LOGISTICS (LINCOLN) LTD 11899229
PKS HAULIERS LTD 04802480
RIDA DESPATCH LIMITED 02636416
SWL COURIERS LTD 10863850
VIC LOGISTICS (UK) LTD 10028289
WIKING HELICOPTER SERVICE LTD 13112571
UK LOGISTICS (NW) LTD 10583631
Y.G.I TRANSPORT LIMITED 10708796
MEMBERS VOLUNTARY LIQUIDATIONS
BRECKNELL, WILLIS & CO. LIMITED 00306444
H.F.LUXFORD & SONS LIMITED 00626062
ORTON COMMUNITY TRANSPORT ASSOCIATION LIMITED IP23729R
PRINGLE BROS. LIMITED 00544261
PETITIONS TO WIND UP
ACE DELIVERY SOLUTIONS LTD 10286464
BLUE STAR DISTRIBUTION LTD 11582769
CELTIC VAN HIRE LTD 09331080
DARIUS KNIGHT LOGISTICS LTD 11086540
MAJESTIC SHIPPING INTERNATIONAL LTD 12733755
UK CARGO LOGISTICS SERVICES LTD 12426491
WEST MIDLANDS TRANSPORTATION LTD 10938133
WOWCHASE TRANSPORT LIMITED 11236251
WINDING UP ORDERS
A W CLEAVER HAULAGE LIMITED 08616514
NVP VEHICLE RENTAL LIMITED 10940919
SQUARELINE TRANSPORT LIMITED 12599474
UK CARGO LOGISTICS SERVICES LTD 12426491
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For details for the work of the journalist Harry Mottram visit www.harrymottram.co.uk