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Anglo Overseas administrators axe jobs

Published:  22 January, 2009

Anglo Overseas, one of the largest shippers and logistics companies servicing the UK wine trade, has axed 70 of its 210-strong workforce after going into administration.

It has emerged that the company had been embroiled in a VAT fraud before its directors called in Glyn Mummery and Jeremy French of Vantis Business Recovery Services to take over the company's affairs last week.

A statement said: "The business was forced into insolvency following a prolonged period of exceptionally difficult trading conditions.

"The company recently entered into a compromise agreement with HM Revenue & Customs regarding a VAT fraud which, it was acknowledged, was not the fault of the company or its staff.

"This, compounded with cash flow restrictions, has resulted in the withdrawal of group support culminating in the appointment of administrators.

"As part of immediate cost-cutting measures, unfortunately 70 of the company's 210 staff have been made redundant."

Anglo Overseas Wine, based at Dover, acts as a specialist forwarder to the wine and spirits trade and has bonded warehouses in London. The company is a member of the Wine & Spirit Trade Association and plays a prominent part in its Freight Forwarders Group.

The company has 14 branch offices and is part of the Ziegler Group , one of the top three players in the freight industry.

Mummery said: "Anglo Overseas has a great deal of heritage and is highly respected in the marketplace.

"We are working closely with the management team to assess the opportunities to rescue all or parts of the business."