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Fiege Verlin snapped up
Page 7
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CASH-STRAPPED distribution and home delivery business Fiege Merlin has been sold to an unknown company set up 14 months ago by business consultants and hedge-fund specialists.
Harrier Logistics has not been trading long enough to file accounts, but it snapped up troubled Fiege Merlin on 14 October for an undisclosed sum.
The German-owned white goods distribution specialist went into voluntary administration just days before Harrier, which is based in Cardiff, made its move.
Nick Dargan, administrator at Deloitte & Touche, says the sale of the business and assets saved hundreds of jobs. "We are pleased to have concluded the sale which is in the best interests of all stakeholders and has preserved the jobs of approximately 750 employees."
But mystery surrounds the haulage credentials of the people behind Harrier Logistics.
Peter Crompton is listed as company director at Companies House. He has also been a man ager for trust company Abacus for five years,based in the tax haven of the Isle of Man.
But he told CM he had stepped down as director for Harrier Logistics when the surprise purchase of Fiege Merlin went through.
Harrier Logistics' company secretary is listed as Abacus Secretaries — also based in the Isle of Man. Gwent-based business consultant Richard Morris is also listed as a director.
christopher.tindall@rbi.co.uk