CRISIS * UK - Haulage companies owed £720 million

Barclays Bank has reported that small and medium sized road haulage and logistics companies are owed in excess of £720 million

London,UK -HGV (Ireland) -28 June 2009: -- ... The Bank's Late Payments Report established that SME haulage and logistics companies in England and Wales are owed on average almost £3,000 on any given day... These companies have incurred losses of almost £271m over the last 12 months, an average of £1,000 per company... The report also revealed that haulage companies typically have to wait almost a two weeks after the invoice due date before they get paid... (Picture from roadtransport/big-lorry-blog: Collet small)