There’s been a strong whisper running round the freight industry that the multi-company ICM Group was in serious financial trouble. This was confirmed to FTW by group MD Kriba Naiken last week. “We’ve been placed in provisional liquidation,” he said. “But that’s not final yet. We’re not sure what’s eventually going to happen, but there should be more clarity about the situation in the next two weeks.” The group of companies claimed to be one of the largest logistics service providers in SA, with a speciality in providing clients with a mine-to-furnace solution to destinations around the world. The group was the agent for shipowner, TBS, which has 50 bulk ships sailing around the globe.
ICM placed in provisional liquidation
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