Prospects vary for GBE creditors
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• Accountancy firm KPMG has admitted it cannot guarantee that all sub-contractors working for GB Express when it went bust will be paid. GB Express's debts could be as high as £16m.
Richard Hill, one of the joint administrative receivers at KPMG, says the likelihood of payment "depends on which of the four UK companies hauliers were working for". Hauliers who worked for GB Express Northern can expect to receive 100% payment and, says Hill, "it is looking pretty good" for those who worked for GB Express Southern. He is less certain about getting money back from GB Express and GB Express Midland. A creditors' meeting will be called before 24 March. One subcontractor, who does not wish to be named, says he is owed about £42,000 for work completed in November and December. He is now working for P&O/GB, following P&O Ferrymasters' acquisition of the company, and is being paid weekly. Full Trailer Loads (FTL), the division of GB Express that suffered significant trading losses and led to the collapse, has been bought by French-owned firm Transalliance.
Li Creditors of GB
Express Ireland, which went into liquidation on 26 January, held a meeting in Belfast last week. KPMG is trying to sell the business as a going concern.