Eagle Freight finally goes to the wall
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• Scottish international freight forwarder Eagle Freight Management has gone into liquidation, ending months of speculation over its future.
KMPG was appointed the provisional liquidator last Thursday (20 Feb) but as CM went to press it was not known how many creditors there are, or how much they are owed.
The Glasgow-based freight forwarder has amassed 19 county court judgements against it over the past six years for non payment for work valued at more than £22,000.
Bedford-based MB Haulage of Houghton Conquest was one of the lucky ones. It threatened to take legal action against Eagle Freight after it was owed £1,609 for work it carried out in May—but following a report in CM (16-22 Jan) a cheque arrived.
This is the second time MB has run into problems with Eagle: in summer 1995 it had to wait five months to be paid £1,300. Managing director Malcolm Bottoms admits he was "very lucky" to get his money: "At the time the story appeared in the magazine I had loads of hauliers ringing me up to saying that Eagle owed them money," he says.
In January Eagle Freight's operations director Jim O'Fee blamed the late payments on cashflow problems brought on by late paying customers.
Neither O'Fee nor his fellow director John Keenan were available for comment.