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Akester aims to trade back to black from a 11 .Gm debt

8th July 1999, Page 6
8th July 1999
Page 6
Page 6, 8th July 1999 — Akester aims to trade back to black from a 11 .Gm debt
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w by Miles Brignall

Hull-based food haulier Akester has gone into voluntary administration with debts of £1.5m, but plans to trade its way out of its difficulties.

Akester, which runs 34 trucks and 24 trailers, called in administrators BOO Stoy Hayward on 30 June. Subcontractors were first told of Akester's problems by letter last Saturday.

Although a spokesman for BOO says the company is "trimming back operations", the 34 drivers and dozen warehouse staff are still being employed by the administrators.

The company, which lists brothers Charles, Nigel and Richard Akester as its directors, was incorporated in 1996 having traded for 25 years. It carries out some UK distribution for Geest out of Hull and filbury. Akester runs in its own livery. Although its work is predominantly food based it also moves associated products such as chemicals.

According to the BOO spokesman: "The company has been running at a profit for a few months now but it sought protection from creditors following a number of writs. Arrangements are being made to pay creditors. Once these are in place, and creditors are happy with them, the reins will be handed back to the directors."

Of the £1.5m debts, £350,000 is owed to unsecured creditors—Including Purfleet based Piper Transport, which is owed more than 25,000, Proprietor Doug Piper says his company won a County Court Judgment but is waiting to receive the money.

• Akester is not the first company to be incorporated by its three directors. In 1989 they set up Akester Distribution; that company was dissolved in August 1998.