Anglo Overseas becomes insolvent

ANGLO Overseas, the UK freight forwarder, has gone into insolvency.

The administrators, Vantis Business Recovery Services, blamed “a prolonged period of exceptionally difficult trading conditions”. However, value-added tax fraud issues were also to blame. HM Revenue & Customs, following a compromise agreement, said that neither the company not the staff were responsible for the fraud.

Anglo Overseas’ European parent, Ziegler Group, was not affected.

To cut costs, 70 staff – out of 210 – were made redundant.