Redditch logistics company rescued
Redditch-based Amco Services (International) has been bought out of administration by Droitwich-based CBW Resources.
The deal saves around 160 jobs at the companies sites in Redditch, Worcester and Telford.
Amco, which turned over more than £21 million in 2019, provides logistics and warehouse services across a wide range of industrial and commercial sectors including defence, automotive and consumer goods on a worldwide basis including land, sea and air freight.
Eddie Williams and Jon Roden, from accountants Grant Thornton, were appointed joint administrators of Amco and brokered the deal.
Eddie Williams said: "I am very pleased that we have been able to conclude a sale of the majority of the Amco operations to CBW with no redundancies of the workforce.
"The company is ideally placed to support its customers in the areas of complex logistics in both the UK and internationally.
"However, the company had been experiencing increasing cash and creditor pressure since early 2020 and was mid turnaround before the impact of covid-19 caused significant further disruption to operations which has led to this position."
