'Ransomed' ices offered by Exel
3rd December 1992, Page 12
3rd December 1992
Page 12
Page 12, 3rd December 1992
— 'Ransomed' ices offered by Exel
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• Exel Logistics plans to sell almost £700,000 of Clarke Foods icecream it is holding to force settlement of a distribution bill. Exel wants to set up a "commercial agreement" with manufacturer Nestle, which took over the assets of Clarke Foods from the receiver last month. The debt has been handed over to a liquidator.
"We are still owed monies from somebody," says David Buck, Exel's head of UK marketing. "Normally we would go to the liquidator, but we are holding product which presumably Nestle would be interested in."
Buck says a lien in the Exel Logistics contract enables the NFC subsidiary to hold on to goods equivalent to the value it is owed on distribution bills.