Taxi Driver Online

Having just got off the telephone to Fraser Eagle I have been informed by them that they have applied for administration.

I expect further details will be forthcoming as the day unfolds.

It appears many hackney carriage and private hire companies who are owed thousands of pounds from unpaid contract work will struggle to get their money.

The untenable position of this company might mean that in the future all rail contract work will be subject to payment up front or a substantial deposit being paid before any work is undertaken.

Regards

JD

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Some cab firms are going to be out of pocket by a few thousand pounds, it's about time someone called time on companies like Fraser Eagle trying to fleece the cab trade of thousands pounds each year. I like many other cabbies won't be sad to see the back of companies like this I feel sorry for the cab drivers and companies who are owed money.

I must add a thank you to westside1 who alerted me to the fact that Fraser Eagle were possibly going into administration.

Regards

JD

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im having trouble deciding which fraser eagle (at companies house) they are

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Of all the things ive lost, i miss my mind the most

wikipedia already know!

The company expanded rapidly in the 1990s when it began providing coaches to the rail industry when train services were disrupted - quickly becoming the UK's leading provider of rail replacement services, a business which exploded in the wake of the disruption following the Hatfield rail crash and the long-running modernisation of the West Coast Main Line.[1]

It also manages, plans, and provides replacement coaches in non-emergency situations (railway engineering works etc), acting as a transport broker with a database of 5,000 coach and taxi suppliers nationwide.

Among others, Fraser Eagle provide replacement transport for Virgin Trains, winning a £12m three-year contract to provide Virgin with around 100,000 taxis a year.[1]

Recently however, increased train reliability and punctuality has led to a downturn in business, as well as increased competition from National Express, First Group and Stagecoach.

Concern has been expressed from both suppliers and clients about the future commercial viability of Fraser Eagle, particularly in Feb 09 when they announced 50 of their 170 staff were being laid off, the closure of Fraser Eagle Cars division & that they would be ending their sponsorship of Accrington Stanley earlier than contracted. Although claiming this was a result of the financial downturn and increased competition, it seems apparent the story runs deeper with allegations of insolvent trading for several months and many of Fraser Eagle's regular suppliers refusing to take any work on until arrears have been settled, some of which date back to Summer 08.

These concerns were realised when the company filed for administration on 4 March 2009.[1]

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Of all the things ive lost, i miss my mind the most

Sadly it would appear TDO can perhaps at least take some credit for pre-warning people about this company.

CC

well no change there then I remember the days before fraser eagle when the train companies themselves booked taxis and then ignored or couldn't pay the invoices !!

Never had that problem with the rail companies....never heard of a problem till you mentioned it....guess we've been lucky?

CC

Any guesses what the new debt-free company will be called?

Fraser Eagle (2009)?

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Of all the things ive lost, i miss my mind the most

Limited.

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Grandad,

You know I'm gonna dislike that post.....but I think you are right

CC

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Think of how stupid the average person is, and realize half of them are stupider than that.
George Carlin

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Think of how stupid the average person is, and realize half of them are stupider than that.
George Carlin

administration, not yet liquidation.

Regards

JD

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Copyright notice © The contents of this post are copyright of JD and are not to be reproduced outside of TDO without written permission.

cheers JD

the death knells I fear all the same.

regards

CC

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Think of how stupid the average person is, and realize half of them are stupider than that.
George Carlin

It would appear so. I suppose scrutiny will now fall on those other firms that operate such contracts, legally or otherwise?

Regards

JD

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Copyright notice © The contents of this post are copyright of JD and are not to be reproduced outside of TDO without written permission.