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DMD bid collapses

14th March 1991, Page 14
14th March 1991
Page 14
Page 14, 14th March 1991 — DMD bid collapses
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Which of the following most accurately describes the problem?

• Dedicated Magazine Deliveries, which was set up to launch a magazine distribution operation following the collapse of Time Sensitive Deliveries (TSDL), has dropped its plans.

All the hauliers in the consortium had worked for TSDL, but a hoped-for bank loan did not materialise. Now the consortium believes it is too late to set up the operation, with many of TSDL's contracts now in the hands of other operators. "The time to strike was November when the iron was hot," says DMD.

More than a dozen creditors of TSDL and its parent company Magazine Distribution (MDL) met in Leicester last week with receiver Ernst & Young. It is believed that creditors now want to put both companies into liquidation.

Ernst & Young says an application by Bibby Distribution of Liverpool to liquidate MDL will be heard in court on 20 March.


Locations: Liverpool, Leicester

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