12/4/2008 10:35:00 AM
Fone Logistics owed money as Comment RS collapses
Comment Retail Services fell into administration this week, following the collapse of one of its biggest customers, Woolworths.
It is believed that Fone Logistics is one of the companies most at risk, with an estimated £450,000 owed after it supplied Comment with handsets.
Staff at Comment were told to clear their desks last week, and the company’s website went down on Monday (1 December) this week. Administrators Chantrey Velacott have been called in, the same company that handled Unique Distribution when it went into receivership.
Fone Logistics confirmed that it is owed money by Comment Retail, but declined to clarify the exact amount owed; however, Fone Logistics managing director Ian Gillespie is confident that the company will recoup the money.
Gillespie said: ‘I’m sitting here comfortably because the money we are owed is credit insured. Comment are owed a lot of money too. If the administrators get that money in, there could be enough for them to balance the books.’
It is believed WHSmith, Comment’s main retail customer, is its biggest debtor.
Comment retail chief Michael Richardson could not be contacted as Mobile went to press.