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News firm plans revival

6th December 1990
Page 14
Page 14, 6th December 1990 — News firm plans revival
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Which of the following most accurately describes the problem?

• At least 20 of hauliers who were shareholders in failed magazine distribution firm Time Sensitive Deliveries (TSDL) are setting up a consortium in a bid to keep their distribution network together.

The syndicate says it has no connection with former TSDL managing director Brian Martin, whose firm went into receivership last week along with sister company Magazine Distribution (MDL) (CM 29 November-5 December).

But it is anxious to retain the network of hauliers which delivered daily to news wholesalers from Martin's Enfield depot. One describes it as a "clockwork system which we would all like to get going again".

The operators are due to meet today (6 December) to finalise the consortium. Until then, its prospective members were saying little other than they had backing from a merchant bank and were in "negotiation with interested parties".

Peter Ellis of PS Freight, Darlington, says at least 20 of TSDL's 23 former shareholders are prepared to join the group which is likely to offer publishers lower rates than TSDL. MDL creditors received a letter from receiver Ernst & Young at the weekend asking for a statement of sums owed by the company.

Ernst & Young's Mike Manton confirms that both MDL and TSDL have "ceased trading". He says a creditors meeting is likely to be held "towards the end" of the maximum three-month period allowed by law. Both companies were run separately with TSDL concentrating on weekly titles that had to be in a newsagent on a specific day, and MDL distributing other weeklies, monthlies and one-off publications. TsDL, was funded partly by shares which were owned by the hauliers.

TNT's newspaper distribution outfit, Newsfast, claims to have won deals for several former TSDL titles, including Smash Hits and Motor Cycle News. Commercial Motor was one of the magazines hit by the collapse of TSDL. Its deliveries were moved to British Rail last week, but newsagents in many parts of the country received their copies late (see page three).


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