New vidim for Vision
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The collapse of Leeds-based freight forwarder Vision Logistics International (VLI) has claimed another victim after the company it was created to support was dragged into administration.
Vision Foods, although sharing a common director in boss Chris Cantrill, was operated as a separate company —VLI was set up to handle deliveries for the food firm hut later diversified into a freight forwarding firm handing loads to around 25 subcontractors.
When VLI collapsed in September this year its accounts revealed it had never made a profit. Its subcontractors were left with debts of £279,000 which are unlikely to he paid.
In fact VLI had been heavily subsidised by Vision Foods and directly by Chris Cantrill. Vision Foods had lent about £70,000 to its sister company; this was enough to put it into administration.
It is believed that a buyer is being sought for the firm as a going concern.