Anglo Overseas becomes insolvent
19 / 01 / 2009
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.