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Little hope for creditors of Hull-based forwarder
Page 7
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CREDITORS FOR Hull-based freight forwarder Distribution Management (UK) are not expected to receive any money after administrators were called in last October.
It is anticipated the deficit for creditors will eventually be as high as £2m and accountants from KPMG are not optimistic that haulage companies owed money )y the freight forwarder will see my of this.
KPMG's Paul Flint says: "It lost a major contract with a company :ailed Aarhus. possibly of Dutch larentage. Effectively it's being wound down — the debt is sigriifi;ant; there are substantial losses or a number of parties."
Distribution Management UK) went into administration on . October following months of inancial turmoil. The company vas controlled by Peter Clarke Ind his wife Deborah; Flint conirms KPMG is investigating alleptions into the conduct of Peter before the financial practitioners were brought in: "As administrators we are making enquiries as far as we can and we will [be filing a report] for the DTI, as we do in every case."
One creditor says he knows of several companies owed large amounts of money: "There are a number of haulage industry creditors owed sums in excess of £.100.000," he claims,"andmany other smaller creditors."
CM was unable to contact Clarke, but another Distribution Management director, Richard Elviss says: "The last time I spoke to [Clarke] was at least a fortnight before it went into administration.
"I am owed a considerable amount of money.