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.’
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
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