NFC wins three-year battle
Page 6
If you've noticed an error in this article please click here to report it so we can fix it.
• A 23 million out-of-court settlement has ended a threeyear dispute between NFC and the Lowndes Queensway furniture group.
NFC division Exel Logistics — Consumer and Industrial (formerly NCCS) had issued a 25.38m claim against the former Harris Queensway retailing group which had pulled out of two distribution contracts before their time was up. The contracts (both had four years to run), involved two furniture warehouses, with vehicles and staff to service them.
Following management and policy changes and the appoint
ment of James Gulliver as chairman of the re-named Lowndes Queensway furnitun group earlier this year, negotiations began to progress more favourably. Top-level talks between Gulliver and NFC chairman Sir Peter Thompson led to the amicable out-of-court settlement last week, and the possibility of ft ture contracts, The settlemer will be paid in two stages: 21: by October, and 22m by Apri next year.
Mike Tarrant, managing director of Exel Logistics — Consumer and Industrial, say "We undertook an extensive redeployment of staff, vehicle and warehousing space within the company because Harris Queensway was an important and valued customer, and we were keen to minimise the in pact on its business.
"The 2,3m settlement is an accurate reflection of the dire losses we have incurred as a result of the termination of contract," says Tarrant. "The strength of our relationship with the Queensway Group is such that we hope to do business again with them again."