Leicester-based haulier bought in a pre-pack administration

Tue, 19 Jul 2016 | ADMINISTRATION

Haulier AM Widdowson and Son, the company behind Widdowson Group, has entered a pre-pack administration.

Widdowson Group and its assets were sold to a company called Widdowson Logistics on the same day as its owner entered administration on 6 July 2016. AM Widdowson and Son had changed its name to Loglecdissol the day before. The 220 employees were transferred over to the new business.

Loglecdissol and Widdowson Logistics are thought to both be owned by investment company HLD Group, which is registered in Malta and trades in the UK.

HLD Group purchased AM Widdowson in June 2015, and insolvency specialist Leonard Curtis put the business, which as Companies House documents suggesting that it owed HMRC over £2.4 million, into a CVA a month later.

Loglecdissol's administrators, Leonard Curtis again, contacted creditors and staff last week (12 July 2016) to let them know of the pre-pack administration.

The letter to creditors mentioned that the business had been profitable in the past but had racked up “significant losses” before and after the CVA. Losing two valuable contracts in 2014 worth about £5 million and a failed attempt to sell the company didn't help matters.

The move has left creditors, a number of recruitment companies, severely out of pocket. One Leicester-based recruiter explained to Leicester Mercury that it is owed about £35,000, for example. The company's manager said: “We were unsecured creditors and I think there are others in recruitment in similar positions.”

Latest list of companies in administration


Share this article



Latest Businesses for Sale

Day Spa
Manchester, UK Wide

A very reputable, award winning, day spa offering a selection of rejuvenating treatments is available in the bustling city of Manchester. Offers invited.

Asking Price: £315,000
Turnover: £600,000

LEASEHOLD


Automotive Repair Business
Gloucestershire, UK Wide

This is a longstanding automotive repair business in Gloucestershire, now available for an interested buyer to purchase. Offers invited.

Asking Price: £925,000
Turnover: £414,249

FREEHOLD


CNC Precision Engineering Firm
Isle Of Wight, UK Wide

A remarkable opportunity has emerged to acquire an established precision engineering business which has cemented solid foundations since it began trading in 1998. Offers invited.

Asking Price: £1,200,000
Turnover: £907,946

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
21
 
Apr
 

Cambridge artificial intelligence / machine learning company bought by customer | BUSINESS SALE

Early stage advanced data analysis company Rinocloud has bee...

 
19
 
Apr
 

Accountancy firm to expand in Scotland | BUSINESS SALE

A UK-based accountancy firm with offices peppered across the...

 
18
 
Apr
 

Recruitment firm acquires counterpart | BUSINESS SALE

Swindon-headquartered recruitment company Outsource UK has s...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
14
 
Mar
 

Hull furniture manufacturer enters administration | ADMINISTRATION

A high-end furniture manufacturing business based in Hull ha...

 
02
 
Mar
 

Interior fitting business enters administration | ADMINISTRATION

An interior fit-out company based in the Midlands has fallen...

 
01
 
Mar
 

Yorkshire modular buildings manufacturer to be sold | BUSINESS SALE

A buyer is sought for a maker of modular buildings based nea...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources