A nationwide Insolvency Practitioners have been appointed for the administration of a London logistics firm after they encountered financial difficulties leading to debts of more than £700,000. The company provided cargo handling for freight forwarding businesses from its base near buy levitra London.
Despite having an annual turnover of £1.4 million, the company was not able to avoid going into administration and hence the administrators were appointed in January 2013. A spokesman for the Insolvency Practitioners commented that this sector is extremely competitive in the current economic climate and they had “run into cash flow difficulties”. One of the partners added, “Following discussions with a number of interested parties, we have acheived a sale of the tangible assets and part of the business to a third party”.