Palletways paid £100,000 for member Systematic Logistics International

Palletways bought member company Systematic Logistics International (SLI) for just £100,000, the firm's administrator has revealed. The company, which had an annual turnover of approximately £10m, was sold via a pre-pack administration in November. The move saved one of the pallet network’s longest serving haulier-members and protected 64 jobs - consisting mainly of drivers and administrative staff – all of whom transferred via Tupe to new owner Palletways. In a report to creditors, administrator FRP Advisory said SLI’s problems could [...]

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