Palletline Logistics (Midlands) Ltd has submitted proposals to enter a company voluntary agreement.
The Birmingham based haulier is a member of Palletline plc, the palletised distribution network. Though sharing a similar name, Palletline Logistics is a separate legal entity under separate ownership and not a division of Palletline plc.
It submitted its CVA proposal to the court on the 26th April 2012.
Kevin Buchanan, managing director of Palletline plc, said: “Being a member owned network Palletline plc does everything it can to support its members, which comprise 63 companies across the UK and Ireland, ensuring strong service performance despite challenging times.”
“Unfortunately, rising fuel costs and a tough local trading environment has forced one of our member companies to apply to the courts to enter a CVA. The arrangement will allow Palletline Logistics to continue operating, while meeting its obligations to customers and creditors alike.”