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Charles W. Banfield Limited

17th February 1978
Page 25
Page 25, 17th February 1978 — Charles W. Banfield Limited
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Which of the following most accurately describes the problem?

In a report of proceedings involving Bee-Line Roadways International of London, heard by the Metropolitan Traffic Commissioners, we reported the evidence given on behalf of the company by John Reid.

John Reid stated to the Commissioners that on Bee-Line's takeover of Charles W. Banfield Limited, the group found it had inherited " a badly run and organised company which was in dire straits." He also stated to the Commissioners that "it seemed at first sight as if they had purchased 'a pig in a poke'." The directors of Charles W. Banfield Limited who sold their interest in 1973 to a Scottish company have asked us to point out that under their directorship Charles W. Banfield Limited made a substantial profit for each of the three years prior to the sale of their interest. The company had a sound current account and some £33,000 on deposit. They were not in any way responsible for the defective condition of the vehicles considered by the Metropolitan Traffic Commissioners.


People: John Reid
Locations: London

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