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Interfreight Logistics cites EU work over CVA
Page 6
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1UNCORN, CHESHIRE-based iterfreight Logistics has taken on Company Voluntary Arrangenent (CVA) following problems vith some of its Continental work. One of the company's directors, ilichael McGuire, says: "The UK
side of our business was running nicely, but we took on a CVA because of some of our EU work. We've currently stopped using subcontractors."
Despite claiming the company is owed around E130,000, he
remains optimistic: "All the money should come in. At the moment it is more of a cash-flow problem. We're still trading and doing a couple of jobs."
The company's financial problems came to light when CM was tipped off about outstanding payments by an operator.
McGuire continues: "All the people that are owed money have been told the situation at this point. We have also stopped advertising for the moment."