Panic Link claims crisis conspiracy
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• Troubled parcels carrier Panic Link has sent a memo to its franchisees, agents and staff reassuring them that there is no crisis at head office, The company's franchisees were paid their monthly commissions on Friday "according to the franchise agreements", despite continuing rumours that the company is struggling to meet its debts.
Last week managing director Philip Kirk refused to deny to
CM that the company was in financial trouble. This week he boasts: "Service quality is at the best level since I joined the company (in mid-1997) and substantial levels of new business have been attained over the last three months."
Kirk alleges that rumours of a cashflow crisis at Panic Link are part of a conspiracy by rival parcel firms "to disrupt our business". He adds: "We have engendered a very positive feeling within the company recently. Confidence has been restored arid we must not allow outside influences to distract us."
However, CM has heard from a number of current fran
chisees and from some who are newly bankrupt—who are dissatisfied with service levels and pessimistic about future business prospects.