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
Offers a variety of services including domestic assistance, medication administration, companionship and palliative care, as part of a 24/7 service. Care Quality Commission with a rating of ‘Good’ in all domains. Contractually provides its services t...
LEASEHOLD
Currently operates from a number of restaurants, all of which are situated in prominent trading locations and benefit from high levels of footfall. Long-standing brand with a multitude of excellent reviews online. All dishes are prepared in store by...
FREEHOLD
Specialises in commercial landscaping, maintenance, restoration and ecology services. Has won multiple awards throughout its time in operation. Embraces works of all sizes and complexities, undertaking a diverse range of projects and working to ensur...
LEASEHOLD
|
09
|
|
Dec
|
Scunthorpe construction group call in administrators | ADMINISTRATION
Scunthorpe-based Clugston Group and Clugston Construction ha...
|
06
|
|
Dec
|
KPMG agrees to sell pensions arm | DIVISION SALE
Professional services network KPMG has announced that it has...
|
05
|
|
Dec
|
What a Labour government would mean for UK entrepreneurs | BUSINESS NEWS
Private business mergers and acquisitions expert Sue Green o...
Sign up to receive our acquisition alert emails to get your FREE guide
|
03
|
|
Jul
|
Assets for sale as London-based waste management company enters administration | ADMINISTRATION
A waste management, remediation and enabling works company p...
|
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...
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