Leicestershire-based Premier Logistics says its business is in a much better and stronger position after successfully trading through its company voluntary arrangement (CVA), a task many other haulage companies have failed to complete.
Managing director Lee Christopher’s back-to-basics approach has seen the business concentrate on its core services during the 18-month CVA period, which ended in February 2020. The business stripped back its assets, separated out non-profitable contracts and focused on delivering excellent service to a core group of loyal customers.
Being in a CVA had meant Premier Logistics wasn’t able to tender for certain contracts. However, the business now has the agility to respond to commercial opportunities and compete on a level footing by targeting select contracts that fit with its profile.
The company now runs an efficient fleet of 40 vehicles, reduced from 120 two years ago.
Lee Christopher said:
“With the support of a loyal customer base and our workforce, I’m proud to say that Premier Logistics has successfully traded through the CVA and is now in a much stronger position for the future.
“There’s been a lot of hard work to review the business, reduce our assets and cost base and become more efficient to build a strong foundation for the future. We’ve learnt that big isn’t always best and our strategy is to grow the business by targeting select work where a commitment to service excellence is a driving factor.
“We’ve been at a huge disadvantage in the marketplace over the period of the CVA and many people had written the business off, but we’ve put in the hard work and now have an agile and responsive business with a strong foundation for the future.
“Customer profiles and ordering have changed over the last few years and we’ve adapted to those demands with a better understanding of our customers’ needs.”
Gary Witter, head of logistics at Premier Logistics customer Tom Chambers Limited, said:
“We’ve worked closely with Lee and the team at Premier Logistics over the last 12 months and it’s encouraging to see how a focus on continual improvement has helped moved the company forward. The service we receive is first-class with a real focus on our business needs.”