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Allisons apply for provisional liquidator

10th September 1971
Page 22
Page 22, 10th September 1971 — Allisons apply for provisional liquidator
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Which of the following most accurately describes the problem?

• Allisons Freightlines have applied to the Scottish Court or Session for the appointment of a provisional liquidator; and Spinks Transport, the other operating subsidiary of Amalgamated Transport Services, has invited its bankers to appoint a Receiver under the terms of its debenture.

In a statement from ATS on Tuesday no explanation of the present position of either Allisons or Spinks was given, although the board said a further statement would be made as soon as it was possible to assess the position in greater detail.

Allisons was saved from possible liquidation when taken over by ATS in January 1969 after an approach was made to the Dundee-based company by Darlington-based Spinks; ATS had taken over Spinks in February 1968, and proved profitable up to 1969-70.

Late in 1968 a manager was appointed over Allisons' English assets but at the Scottish Court of Session on December 20, Lord Fraser rejected the petition as it affected the Scottish side of the business. A second hearing took place on January 17 1969 and throughout the proceedings Allisons' directors maintained that the company was viable and, despite having shown a loss of £192,000 the previous year, was operating profitably.

After the Spinks take-over approach in January 1969 Mr James Allison, AF's chairman and managing director, told CM that now that the company had the support of a strong group in the city. he saw the future with a great deal of confidence. At that time Allisons had 360 vehicles based at six depots throughout Great Britain. Spinks operated 45 tractive units and 82 semi-trailers from depots at Norwich and Darlington.


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