Far Eastern slump hits UK
19th August 1999, Page 5
19th August 1999
Page 5
Page 5, 19th August 1999
— Far Eastern slump hits UK
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Keywords :
Bankruptcy, Freight Forwarder, Logistics, Supply Chain Management, Insolvency Practitioner, Insolvency, Recession, Business / Finance
• International freight forwarder GHK Freight Services has gone into voluntary liquidation. The Leeds-based company ceased trading on 23 July, claiming it had been badly affected by the recession in South-East Asia.
Brian Dreher of insolvency practitioners Pappleton & Appleby, which is acting an behaff of GHK, says: "A large percentage of OHK's business involved consignments to the Far East and the director considers this to be the crux of the problem."
One of GHK's main contracts involved moving goods for the Ministry of Defence but it is unclear at present how many hauliers are affected by the firm's failure. Greber declines to give any details.