BusinessCompany NewsE&Y sounds death knell for Amtrak

E&Y sounds death knell for Amtrak

Administrators E&Y has sounded the death knell for West Midlands parcel delivery business Amtrak

Joint administrators
Ernst & Young (E
&Y) yesterday sounded the death knell for the Walsall-based parcel delivery
company Amtrak, which will result in the closure of its Aldridge hub and head
office and the loss of 400 jobs.

The administrators are also closing Amtrak’s 35 other depots across the UK,
resulting in a further 500 workers being made redundant, the Birmingham
Post
reports.

After spending a week at the Aldridge office, E&Y decided the company,
owned and operated by Netfold, would be wound up, the high cost of fuel and the
squeeze on consumer spending having been blamed for the collapse.

‘The business will be wound up by the end of the week. So far, 50 staff at
the Aldridge site have been made redundant but it is likely that all employees
will be made redundant by the end of the week,’ an E&Y spokesman said.

Further reading:

Read
the Birmingham Post story

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