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:PC finally calls n the liquidator

7th November 2002
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Page 7, 7th November 2002 — :PC finally calls n the liquidator
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Which of the following most accurately describes the problem?

Keywords : Greenhill & Co.

Id INVESTIGATION

by Dominic Ferry Ilet network Express Paliet stems (EPS) has collapsed lowing months of speculation. In the summer (CM 22-28 ly) we revealed that the West dlands-based firm owed huneds of thousands of pounds creditors, including members its own network.

Operators came forward to iticise how the network was ing run by Roy Greenhill. Many limed that a massive turnover depots and problems with the yment system made EPS possible to work for.

Faced with a rapidly dwinng number of depots EPS pears to have effectively lased trading in late August; a company is now seeking to it itself into liquidation.

London-based insolvency .actnioners Sorskys is hanng the firm's affairs prior to a editors' meeting this Friday (8 wember). A spokesman says at the firm owes at least i00,000—but adds that it is red a similar amount.

However, creditors say they e not hopeful of seeing any of eir money. Andy Lee, who us Gloucester-based Andy e Transport, obtained a court igment for the 117,000 he is red by EPS; 'There's not an irfui lot I can do about it now. e annoying thing is that I didn't iarge the earth to do it; it was more to help them out. We were struggling for a little bit but we are starting to fight back now. Without this we would have been flying now—it set us back six months to be honest."

Mark Gomes, who runs London-based MJG Express. says he was covering six postcodes for EPS and is now owed around £10,000.

"I found it to be run very badly from a hub point of view," he adds. "For a centrally billed system it was not looked after. We thought it was great to begin with until they'd run up a bill in a matter of months of nearly 220,000."

Gomes has since done work for another of Greenhill's firms, UK Express Systems, which was also one of the depots within the EPS network.

"What really disappointed me was that I helped hen and UK Express and carried on in the system," he says. I thought I would get some money from EPS but the last cheque for £2,500 bounced."

Janet Jones who ran EPS alongside Roy Greenhill and his wife Carol, and who also had a depot within the system, blamed CM for the company's demise. She says: "The article just about made us close our doors. We had people ready to invest in us until they read that."

However, even companies with court judgments against the firm are still waiting for their money.


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