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Mystery buyer scoops Karitrans assets
Page 6
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THE OWNERSHIP of a cashstrapped freight forwarding firm remained a mystery as CM went to press.
Rainham-basedKaritrans,which also had offices in Birmingham and Manchester, went into administration on 14 June after it became unable to pay its debts. Its assets and goodwill went up for sale. Administrator David Hudson, for Begbies Traynor, describes the list of creditors as "substantial".
However, he says there are interested parties willing to stump up the money to buy Karitrans' assets. The most recent accounts filed for Karitrans at Companies House are for the year ending 31 December 2002. At this point the business, which operated throughout Western Europe, had a turnover of almost Sm. However,its profit for the financial year was just £30,239 and it owed nearly £2m to trade creditors. Lisa Clark, manager of Karitrans Manchester office, says: "We haven't ceased trading. We are trading as Karitrans Group at the moment I wasn't aware it had been sold."
MD Kevin Leather declines to comment on the administration or Karitrans debts, but a head office spokesman says: "The assets and goodwill have been purchased."