Tue, 20 Apr 2021 | ADMINISTRATION
West Bromwich-based courier and logistics firm New Generation Courier (NGC) Logistics has announced that it has entered administration. The company provides courier services across the UK and Europe, including storing and delivering parcels for Amazon.
A spokesperson has revealed that insolvency practitioners from Leonard Curtis and Carter Clark have been appointed as joint-administrators and tasked with managing the day-to-day running of the business as they review a number of options for its future.
A statement read: "The affairs, business and property of New Generation Courier Logistics Limited are managed by the joint administrators, Alan Clark of Carter Clark and Neil Bennett of Leonard Curtis Group, who act as agents of the company and without personal liability."
NGC Logistics, which employs around 100 members of staff, offers logistics services to both individuals and organisations that span multi-model networks across the world. Originally incorporated in 2008, the business holds the standard international operator licences in the East of England and West Midlands traffic areas, which authorises the operation of 10 and 16 HGVs respectively.
As part of its service, it offers a next day express package delivery option, as well as a European business freight service, warehousing and storage facilities and returns services for customised deliveries.
According to the last set of financial results for the company, its core activity is still a final mile delivery service. Figures also showed that, for the year ending 31 July 2019, NGC Logistics made a pre-tax loss of £137,000 on a turnover of £26.2 million.
View the latest distressed UK businesses here.
Offers an extensive range of high-end products from some of the worlds largest air conditioning manufacturers. Has developed a range of medical-grade air purifiers.
LEASEHOLD
A reputable electronics and coding manufacturer operating for over 15 years. Supplies a comprehensive range of electronic kits, coding platforms, materials and complementary accessories for schools across the UK. Materials, such as Perspex, polypropy...
LEASEHOLD
Buys and sells corrugated case materials for the manufacture of corrugated board and boxes and paper for tube winding, as well as manufacturing paper blankets and offering a comprehensive trade rewinding and sheeting service. Has 104 active clients a...
LEASEHOLD
|
03
|
|
Dec
|
Halfords to acquire £157m-turnover Axle Group Holdings for £62m | BUSINESS SALE
Halfords Group has announced that it will acquire automotive...
|
02
|
|
Dec
|
Staycation M&A surge continues as Midlothian plans £170m Park Leisure sale | BUSINESS SALE
Midlothian Capital Partners is reportedly exploring a potent...
|
02
|
|
Dec
|
Private equity-backed takeovers stabilise in third quarter | BUSINESS NEWS
The latest Buy and Build Barometer from Rickitt Mitchell has...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources