Phoenix falls to the ashes
Page 8
If you've noticed an error in this article please click here to report it so we can fix it.
by Jane Sayer • Phoenix Cargo of Leverington, Wisbech, Cambridgeshire, has gone into voluntary liquidation owing money to hundreds of owner-drivers, many of whom face having their trucks repossessed.
Phoenix, which specialised in haulage to the Continent, has appointed licensed insolvency consultant Beverley Beck & Company of Teignmouth, Devon, to make a financial appraisal of its affairs. The official liquidator is John Kelmanson of London.
Peterborough-based owner-driver Don Doyle is owed more than £4,500 by Phoenix for three UK tipping trailer jobs and a trip to Greece. "1 was really mad about that job because I was promised running money that wasn't there when I went to collect it and I had to fund the trip myself," he says.
Owner-driver Ian Thompson of Aberdeen is also on the verge of having his truck repossessed; he is owed about .C15,000 by Phoenix. "I have got to find £2,500 as soon as possible," he says. "Otherwise don't know what I am going to do."
Nicholas James, management consultant at Beverley Beck, says Phoenix is owed a total of £100,000. Its biggest debtor is Austrian-government owned shipping agent 1,KW Walters, which owes Phoenix £68,000.
"To collect this money is going to cost a fortune in legal fees— L20,000 plus any insolvency fees. Customs & Excise is owed a £15,000 fine for using red diesel. If all the debts are collected the owner-drivers should receive a dividend," says James.
Phoenix managing director Steve Griffiths, who runs his business from home, has allegedly received death threats from drivers.