Mystery bids for AWD
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• Three companies have emerged as front runners to buy British truck builder AWD, which went into receivership in early June — and they could include a rival manufacuturer.
Receiver KPMG Peat Marwick is tight-lipped about their identities, but administrator Simon Bell confirms that truck manufacturers have made enquiries. "We are still aiming to sell AWD as a going concern," he says. "We have had several serious approaches," A meeting of AWD creditors will be held tomorrow (Friday 28 August) at Dunstable civic centre. All of the company's 1,400 creditors have been invited to attend, but it is unlikely that they will be offered any money, says Bell. Jim Smith, chairman of AWD's dealer council, says the attitude of the receiver has been positive. "Things have been getting better than before their appointment," he says. "Now we are getting payments for warranty and sourcing parts with ease."
However, AWD's sales, which were faltering before the company went into receivership, have slipped further. In June and July the company sold just 27 trucks, compared with 117 in the same period last year.