Finance faults • Doubts about the finances of Widnes-based Kabfast
18th April 1991, Page 20
18th April 1991
Page 20
Page 20, 18th April 1991
— Finance faults • Doubts about the finances of Widnes-based Kabfast
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Keywords :
Birchall, Business / Finance
have Jed North Western Deputy Licensing Authority Kenneth Birchall to refuse its application for a new national licence authorising eight vehicles and two trailers.
Transport manager and company secretary Robert Turner had made his son Michael a director following a series of business problems. He told Birchall that his working capital was only £1,000. The DLA said he was looking for a working capital of 15-20% of turnover.
Turner planned to sell bunkered fuel which he expected would account for 25-28% of earnings.
Birchall said that the figures submitted only showed 4-5%.