A Penrith based parcel and pallet distribution company that has operated in Cumbria for 30 years has been placed in the hands of liquidators to wind up the company.
Established in 1987, Cumbria X-Press Limited has operating from East Lakes Business Park on Gilwilly Estate in Penrith making over 2,500 deliveries across Cumbria and the UK every week.
The firm specialised in local, national and international professional courier services, providing parcel and pallet deliveries for Business to business and Business to customers.
Documents lodged with Companies house show the company entered voluntarily and entered a creditors liquidation.
A method used when a company is insolvent and cannot pay its debts, with licensed Insolvency Practitioners taking over and handling the winding up process.
Mark Colman and Megan Singleton, of Leonard Curtis in Preston, have were appointed on Tuesday as Joint Liquidators for the winding up the business.
The statement of affairs published by the liquidators this week shows the companies creditors ranging from other local businesses to HMRC are owed over a million pounds with number of employees at the company was listed in documents as 19.
An associated company Cumbria X-Press Holdings Limited that holds the 100% shareholding in Cumbria X-Press Limited is also under a compulsory striking off process by companies house with accounts listed as overdue.
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