Amtrak (Placed in Administration by Netfold 2008)

Note: This company is no longer trading as a separate enterprise.

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2008

August - Amtrak, has effectively gone into administration for the second time in less than two years.

Amtrak owner Netfold Limited appointed joint administrators from Ernst & Young LLP on August 22 and a notice on the parcel company's website confirms that it had ceased trading. The same notice also indicated that customers with parcel collection/delivery requirements should contact another UK operator, Business Post Limited, "which will be happy to provide an alternative service".

Headquartered at Aldridge in the English West Midlands region, Amtrak had been operating two distribution hubs - one in Aldridge and the other in Warrington, north-west England − together with 36 distribution depots across the UK, employing over 900 people. It specialised in home delivery services. According to the Amtrak website, annual turnover was running at £80m (€99m) last year.

One of the joint administrators from Ernst & Young commented: "Amtrak has found trading in the current economic climate challenging. It is a business led by consumer demand and as consumer spending power has weakened, Amtrak's business has suffered. We are currently assessing the financial situation of the business and as a result the collection and delivery of goods may be disrupted."

Amtrak Express Parcels was formed in 1987 and privately run until a buyout by 3i in 1998. It subsequently acquired another leading UK overnight carrier, Nightspeed, in 2005. A further change of ownership took place in mid-2006 but by the end of that year the company had run into financial difficulties. It was placed in administration at the start of 2007 and then bought by Netfold. The latter organisation was described at the time as representing "one of the industry's most experienced management teams with a solid background in the express parcel, freight and logistics business sectors". 

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2007

In January Amtrak Express Parcels moved into new ownership following a move into administration earlier in the month. Ownership of Amtrak changed hands at the end of summer 2006, but the company suffered financial difficulties during the autumn and early winter trading, and had been seeking a refinancing.

The new owner Netfold Ltd represented a management team with a background in the logistics sector. The sale was concluded by KMPG and the business will continue to trade under the Amtrak name.

Following the acquisition the new owners confirmed that all existing employee contracts had been transferred to the new company. Amtrak had a turnover of £80m with nearly 1,000 employees and a 2,000-strong fleet of commercial vehicles. As well as a national operational centre in the West Midlands, the company had a regional hub in Warrington and an administration office in Bristol. There are 80 owned and franchised depots across the country.

The company had suffered financial difficulties following the collapse of Farepak, one of Amtrak's main customers that was exacerbated with poor retail trading during 2006.

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Amtrak was founded in 1987 and provides a range of express parcels services.  It has developed over 100 depots nationwide and a franchised network operating through a fleet of around 1,000 vehicles. As well as UK operations, Amtrak provides a service to New York and to 40 destinations throughout Europe. It has particularly focused on the home delivery sector, winning several major contracts. In 2004 its turnover was £69.6m, showing a 4% increase over the previous year.

Amtrak delivers a large amount of electronic goods such as computers and mobile phones, as well as electrical appliances, food, wine and flowers. Amtrak has specialist handling systems to deal with these special requirements.