BusinessBusiness RecoveryKPMG finds buyer for parcel business

KPMG finds buyer for parcel business

Administrators sell Amtrak Express Parcels

KPMG
administrators Mark Orton
and Allan Graham have sold West Midlands-based
express parcels company, Amtrak Express
Parcels,
Limited to Netfold Limited. The business will continue to trade
under the Amtrak name.

This follows their appointment as administrators on 13 January 2007 after
Amtrak Express Parcels suffered financial difficulties – it had been seeking a
buyer in recent months.

It has turnover of £80m and nearly 1,000 employees.

Orton said: ‘The company has been looking for a buyer or refinancing in
recent months. The sale protects the jobs of the company’s employees and
provides continuity and ongoing business for the customers and suppliers. Amtrak
enjoyed busy trading during December which should provide a good platform for
the business in 2007.’

Further reading:

KPMG steps in at troubled car components maker

KPMG closes Portland Conservatories

KPMG aims to save home improvement business

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

4d Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

4d Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

3w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor