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Second crisis hits Amtrak
10th May 2007, Page 7
10th May 2007
Page 7
Page 7, 10th May 2007
— Second crisis hits Amtrak
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AMTRAK EXPRESS Parcels, recently saved from administration by another express parcel company. faces a winding-up petition from an Anglo-Irish freight company.
Amtrak was bought by Netfold in January after KPMG was brought in to deal with its financial difficulties. It had suffered a financial crisis after one of its main customers, Farepak,collapsed during 2006.
However, Countrywide Freight Group, a previous Irish Haulier of the Year, has presented a petition to wind up Netfold, trading as Amtrak, which will be heard in Walsall County Court later this month. A spokesman says the petition relates to the Insolvency Act.
Amtrak Express Parcels declined to comment.
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Walsall County Court