entered administration, leaving it with bad debts and cashlow woes.
17th February 2011, Page 6
17th February 2011
Page 6
Page 6, 17th February 2011
— entered administration, leaving it with bad debts and cashlow woes.
Close
Noticed an error?
If you've noticed an error in this article please click here to report it so we can fix it.
If you've noticed an error in this article please click here to report it so we can fix it.
Keywords :
Bankruptcy, Finance, Insolvency Law, Unsecured Creditor, Preferential Creditor, Secured Creditor, Insolvency
One creditor, which wished to remain anonymous, says: “I understand one of KL Express Logistics’ sudden contract losses cost it around £25,000.” After preferential creditors were paid, there was only £7,056 available for unsecured creditors, according to a statement of affairs iled at Companies House.
The haulier, which had an O-licence for 11 vehicles and 11 trailers, became insolvent just three months after joining UPN to cover Bromley and Dartford deliveries. It joined from rival pallet network Fortec.
David Brown, UPN director, says: “I can conirm UPN service has not been affected, but I am not able to comment any further at this stage.”
Tags
People:
David Brown