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Hopeful Heron Distribution

11th June 1992, Page 12
11th June 1992
Page 12
Page 12, 11th June 1992 — Hopeful Heron Distribution
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Which of the following most accurately describes the problem?

• Heron Distribution defiantly said this week it would continue to pay interest to its bank, despite troubles at its parent Heron International.

Managing director Richard Morris said Heron Distribution this year made a pre-tax profit of £2.75m, and that it was not seeking a suspension of interest payment to its bank.

However, Heron International has asked its banks for leniency and for deferred interest payments from some sections where there is insufficient cash flow to meet debts.

The £19m-turnover Heron Distribution works for customers such as retailers Asda, Gateway, Menzies and Wickes and manufacturers Electrolux, Zanussi and Suzuki. It runs around 250 vehicles.