Avient owes over £20m
19 / 06 / 2013
MORE than £20m is owed to creditors of a Zimbabwe-registered, UK-headquartered cargo airline, which entered administration this year.
Administrators of DC-10F operator Avient are not certain how much the failed company owes, as its accounting records have not been updated since May of last year.
The debt includes £19.1m due to trade and expense creditors. The administrators are now working with AV Cargo Airlines, a new entity established by Avient’s directors.
A total of 18 staff at its UK base, which includes sales, marketing and administration functions, have been made redundant and the carrier’s operational hub in Belgium has been closed.
Creditors are to be asked whether to accept an agreement with AV Cargo or require an immediate winding up and liquidation of Avient.