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WRM revamps to solve financial problems
Page 8
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• Distribution and warehousing giant 'WRM Logistics has installed a new management team and moved its head offices to Kent in an effort to solve operational and financial problems in its fresh-produce sector.
The firm's two remaining partners, commercial director Brian Man and finance director Geoff Regan (the M and R of WRM), are leaving the company just a month after former execu tive chairman David Winkworth retired due to ill health (CM 21-27 Nov).
Bob Wiggins has been appointed group financial direc tor and, with chief executive Ian Lynon, is taking all operational decisions. The £40m-turnover group has also moved its head offices from Dorking, Surrey to Teynham in Kent which is closer to the fresh produce operations at Paddock Wood and Sittingbourne.
Lynon made the changes following talks with the group's venture bank shareholders, European Acquisition Capital (EAC), which has given him full backing and financial support.
Pressure on the group to make changes has mounted over recent months after cash flow problems left subcontractors on supermarket work owed thousands of pounds.
A WRM spokesman says it is looking at cost reductions to make it more efficient. "Things haven't been as hunky-dory in the past as we would have liked," he says, "but we have some very strong managementfocused people in there now."
WRM runs 350 trucks from 10 sites around the country. It employs some 400 drivers out of a total workforce of 800 and uses 200 subcontractors. The company also has paper and general logistics operations.