Apex collapses overnight
Parcels firm Apex has gone into administration, leaving 75 shocked franchisees struggling to claim back the money owed to them by the Midlands company.
Administrators from accountants Deloitte & Touche were called in on 29 May, ending weeks of speculation following the collapse of the firm’s tie-up with now defunct Scottish carrier Blue Band Express.
Haulier Simmons of Elstead in Surrey, is trying to claw back nearly £7,000 for work carried out for Apex’s Wednesbury hub between January and March.
Partner Pamela Simmons says they were paid £4,000, but fear they may not see the thousands still owed now that Apex has ceased trading. ‘We should have received even just a letter—they must know who they owe money to,” she adds. “I would have thought out of decency they would let us know.”
Len Allday MD of franchise Ailday Express, has carried out work for Apex for nine years, and news of the collapse came as a shock: “I found out by fax. It’s left a gaping hole in our business. We’re talking about a million pounds worth of work. When you are a reputable company you can always find a home, but it’s not going to be easy.”
Hissan Him is a director for Kent-based Littonfast. He says he spoke to Apex director Raymond Giblin recently and was told that everything was fine: “I spoke to him on Friday and he was confident. When I saw the fax I couldn’t believe it. The bank has said enough is enough.”
Him says Littonfast and several other depots put in a bid of
£800,000 to continue trading from the Midlands hub, but this was turned down. However, he remains upbeat: ‘We are still in talks about it. If we get it back itwill be a good business, believe me.”
A spokesman for Deloitte & Touche says: “There were a number of issues which arose
dating back to the fuel crisis. Apex has ceased to trade until we can pull everything together and work out a dividend.”
Apex’s annual report for the year ending 31 March 2001 warned that the fuel crisis had “a direct effect on the company’s turnover and gross mar-
gin”. But it added that despite this the company’s performance was “satisfactory”.
The firm has been trading since 1993 and only moved to its new purpose-built hub in last October. Its accounts for the last year show a loss of £161,757.
