UK-headquartered DL Hudson has filed for administration after a long-running dispute with receivables finance provider Artis Finance, which the commodity trader said is a voluntary move ahead of an anticipated acquisition.
DL Hudson filed an administration application in London on November 12, alongside Rektron AQ, an acquisition vehicle that took over the trader in 2018 and is owned by Canada-listed Rektron Group.
DL Hudson, which predominantly trades metals and energy commodities, reported gross profits of US$30.5mn for the 2024 financial year, with revenue totalling US$2.5bn.
However, the trader has been subject to a winding-up petition since June, following a dispute with Artis Finance – which entered…