AT THE HEART OF THE ROAD TRANSPORT INDUSTRY.

Call our Sales Team on 0208 912 2120

Apex bid held for cash facts

21th April 1994, Page 16
21th April 1994
Page 16
Page 16, 21th April 1994 — Apex bid held for cash facts
Close
Noticed an error?
If you've noticed an error in this article please click here to report it so we can fix it.

Which of the following most accurately describes the problem?

Keywords : Business / Finance

11 • Taking no disciplinary action against Apex Transport Serv

ices, North Western LA Martin Albu adjourned the company's bid to double its licence authorisation until an application to change its operating centre had been dealt with.

Asked why the company was seeking additional vehicles, director Howard Stuttard said it wanted more work and had found some for one extra vehicle. He also said the four vehicle increase was to cover further expansion.

Vehicle examiner Henry Kokocinski said he examined four vehicles, issuing one immediate and one delayed prohibition. The condition of the vehicles was unsatisfactory despite advance notice and evidence that the vehicles had been prepared for his inspection. The inspection sheets lacked detail and there were three-month gaps between inspections. There were no maintenance facilities or staff at the Burnley operating centre.

Stuttard said the company changed its maintenance contractor in January. Inspections were now being carried out at sixweekly intervals. The company applied for a new operating centre at Bolton.

Asked how the company was going to pay for so many extra vehicles, Stuttard said it would acquire one vehicle with its available capital and did not need all eight vehicles, just one or two extra.

Albu said he needed to know the company had enough capital and reserves and he would like to see the end of month accounts.

He said that things had got into a bad state with the company's maintenance contractor not doing its job properly. It had taken the necessary action of changing the contractor.

He would deal with the bid for additional vehicles and the change of operating centre together. In the meantime the company should send him the required financial information.


comments powered by Disqus