AT THE HEART OF THE ROAD TRANSPORT INDUSTRY.

Call our Sales Team on 0208 912 2120

Ken Abram Ltd is in administration

23rd March 2006, Page 6
23rd March 2006
Page 6
Page 6, 23rd March 2006 — Ken Abram Ltd is in administration
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?

Ken Abram Ltd ceased trading this week, leaving an estimated 100 creditors out of pocket. Bridget Carter and Dominic Perry report.

ADM IN 1STRATORS WENT into Skelmersdale-based Ken Abram Ltd last week, citing diminishing turnover and mounting debts.

Staff at Unity Corporate Recovery are now compiling a list of creditors — there are expected to be over 100. although the exact amount of money owed and whether they are likely to receive any payments are not yet known.

Joint administrator Katrina Staniforth says the family-owned company stopped trading as of Friday 17 March and is now winding down.

But several of Ken Abram Ltd's directors — Michael Abram. Philip Abram and Julie I Itimphreys — are now part of a new company, Ken Abram Transport Ltd. registered with Companies House in January.

Additionally, the parent company Ken Abram (Holdings) and Ken Abram Warehousing are unaffected by the administration.

Ken Abram Ltd was taken to a public inquiry last year over possible breaches of the drivers' hours rules and maintenance problems. A Vosa computer glitch also meant that the company was wrongly accused of operating without an 0-licence (CM 22 August 2005). The company has specialised in delivering food, drink and paper from its bases in Skelmersdale, Glasgow, Banbury and Avon mouth for the past 44 years.

The latest accounts filed for the year ending July 2004 show that Ken Abram Ltd made a pre-tax profit of just over £10,000. Despite this, the firm paid out a £70,020 dividend to its sole shareholder — parent company Ken Abram (Holdings) — driving it into the red.

The holding company's accounts show that it made a pre-tax profit of 1120,214 in the year ending 31 July 2004. It also paid out a dividend of £70,020 to its shareholders.

No one from the firm was available for comment.


comments powered by Disqus