Pickfords hit by slump in US and UK housing markets

[catt]

Pickfords - oldest removal firm hit by slump in US and UK housing markets

--------------------------------------------------------------------------------

Pickfords Britains oldest and largest removal company is on the verge of a fire sale to avoid a financial crisis that would put up to 1300 jobs at risk. (Report from The Times 15th February 2008) It goes on to say that the loss-making company is trying to sell some or all of its business as it seeks to secure addiitonal funding to help to pay staff and creditors. If it fails Pickfords would become the first high profile British casualty from the slowdown in the UK housing market and the collapse of the American property sector.

This report goes on for nearly half a page but the main thing is that they are losing money and cannot sustain. /Pickfords is owned by a company called Sirva UK Limited.

Thought it useful to let everyone know.

[MotherBear]

Interesting news, Catt, but must be quite worrying for a lot of other removal companies, I'm sure. It's always a bit unnerving when one of the biggies comes crashing down.

[nickydwuk]

They were one of the more expensive ones though - maybe that has something to do with it?