1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182 
Ken Thomas runs into financial crisis
Page 6
If you've noticed an error in this article please click here to report it so we can fix it.
Months after it was taken over, a high-profile haulier has called in
money experts to sort out its debts. Chris Tindall reports.
ONE OF East Anglia's best known haulage firms has hit financial difficulties barely eight months after its takeover.
Wisbech-based haulier Ken Thomas was acquired by Seafield Logistics in May 2004. Now it has called in "turnaround practitionersin a bid to survive. Seafield Logistics is no stranger to financial turmoil itself it was born out of the collapse of a previous firm, Seafield Holdings,in July 2003.
Company rescue specialist KSA has been appointed to assist Ken Thomas director Mark Strong, also a director of Seafield, to prepare a proposal which includes a company voluntary arrangement (CVA). It is hoped this will enable creditors to be paid; either from profits or by selling assets.
However, one creditor. Alan Kynaston from General Haulage Co in Wakefield, is seeking legal advice. Kynaston received a letter from KSA before Christmas stating: "The directors acknowledge the company's late payment of monies due to you.The business is currently in detailed discussions with KSA regarding its current financial position."
General Haulage is owed £446.
"One of the lads in the traffic office rang me and offered some work," says Kynaston. "When it came to payment time the lads I had spoken to had left and KSA was describing my debt as 'histori cal'."KSA has written to Kynaston again asking him not to pursue any legal action while the CVA proposal is circulated to all creditors.
At the time of the takeover Seafield said:"There are no plans to change the operations of the Ken Thomas Group or its customer activities. The name will remain for the immediate future although all new equipment will be purchased in SeafielC livery" Owner JoinThomas added "Selling the business has been E very emotional decision to make but I know [they] will have a much much better future together." No directors at Seafield Logistics were available foi comment.
WAREHOUSING & GISTRIGUTION