Panic link's premium bond
9th May 1991, Page 22
9th May 1991
Page 22
Page 22, 9th May 1991
— Panic link's premium bond
Close
Noticed an error?
If you've noticed an error in this article please click here to report it so we can fix it.
If you've noticed an error in this article please click here to report it so we can fix it.
• Next-day parcels carrier Panic Link has launched a £1m bond fund which it claims makes it the only UK operator to offer its franchisees investment protection.
The bond — launched through broker SH Fehnert — guarantees franchisees their money back if Panic Link collapses. On average franchisees invest between £20,000 and £40,000; the bond scheme will be included in the cost.
Panic Link director Ernie Lindsay cites the collapse of franchise carrier Transam last year which left several operators in "dire financial difficulties".
Lindsay says it would cost £800,000 to reimburse its 102 franchisees in the event of Panic Link's collapse — the additional £200,000 is "bunce", he adds.