Dow Freight cut back
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• Stockport-based Dow Freight Services' (CM 18-25 June) freight forwarding business has been disposed of, and its continental operations wound up, following the recent appointment of joint administrative receivers.
Lesley Peak, senior manager with joint receiver J D Harrison confirmed this week that Dow Freight Services was "No longer operating on the continent.", and that Dow Freight Forwarding had been sold.
Job losses resulting from the sale of Dow Freight Forwarding, and the discontinuation of Dow's TIR work, are thought to be about 60, although an exact figure has not been given. Vehicles used on the company's continental contracts will, however, be disposed of.
Peak says that the receivers are currently negotiating with a number of parties to sell the remaining business of Dow Freight Services' UK contract work. A decision is expected shortly.
No details have been released on the extent of Dow Freight Services' debts, although an indication could be released in a 'Statement of Affairs' which is currently being prepared by the receivers.