Manchester Airport logistics company Pangaean Ltd has ceased trading.
A letter to creditors in advance of a meeting for them scheduled for March 24 said that the company is insolvent and cannot meet its liabilities in full. Paul Stanley of accountancy firm Begbies Traynor said: “Pangaean’s premises were too big and expensive for the amount of business it had. The company was looking to refinance, but its efforts were unsuccessful so the directors decided to close down.”
No one from Pangaean could be reached for comment.
The firm opened its perishables facility at Manchester Airport just two years ago.
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