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Amtrak (UK) goes belly-up. Again

Aug 28, 2008



After being bailed out of financial difficulties by Netfold less than two years ago, UK express parcel company, Amtrak, has once again gone into administration.
 

Amtrak went into administration on August 22, 2008 and has ceased trading.

According to company administrator, Ernst & Young, Amtrak found trading trading in the current economic climate challenging.

"It is a business led by consumer demand and, as consumer spending power has weakened, Amtrak's business has suffered," said the administrator.

Headquartered in Aldridge, West Midlands, Amtrak operates two distribution hubs in Aldridge and Warrington and 36 depots across the UK.

Netfold rescued Amtrak Express Parcels from administration in January last year, and subsequently invested heavily in fleet expansion, saying the company expected to double its international business within the next twelve months.

Fourteen months after that optimistic announcement, the company's administrators are assessing the financial situation of the business, and warning that the collection and delivery of goods may be disrupted.

Meanwhile, a notice on Amtrak's website suggests customers requiring parcel collection or delivery should contact Business Post.

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