AT THE HEART OF THE ROAD TRANSPORT INDUSTRY.

Call our Sales Team on 0208 912 2120

Assets sold to pay staff

7th December 2006
Page 7
Page 7, 7th December 2006 — Assets sold to pay staff
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?

FORMER STAFF OF collapsed Penrith bulk and powder haulier Barnett & Graham will not be left out of pocket.

Barnett & Graham, with its sister firm, dealership Bordcrman (Trucks),went into administration in September leaving 98 staff redundant (CM 21 September).

The firm owed almost 12m when it shut its doors, but the creditors' report shows the administrators raised more than £1.4m from the sale of the firm's assets,and another £100,000 for the assets of Borderman. North East Truck & Van has now taken over the Borderman (Trucks) MAN-ERF franchise.

Administrator Mike Kienlen says employees will probably now receive any outstanding payments. Some money should then become available for the company's unsecured creditors.

Local hauliers have taken over Barnett & Graham's clients Kirkby Stephenbased TR Handley is handling bulk powder transport from the Corns plant at Shap.

Tags

People: Mike Kienlen

comments powered by Disqus