Monday 24th Oct 2016 - Logistics Manager

New owner for Amtrak

The Amtrak express parcels business has new owners, including Alan Jones pictured.

Ownership of Amtrak changed hands at the end of last summer, but the company ran into financial difficulties following the collapse of Farepak, one of Amtrak’s main customers, that was exacerbated with poor retail trading during 2006 and it had been seeking a refinancing in recent weeks.

The sale to Netfold Ltd was concluded by KMPG and the business will continue to trade under the Amtrak name.
Following the acquisition the new owners say that it is business as usual and that all existing employee contracts have been transferred to the new company.