Consignia Faces Losses of Over £1bn

30 April 2002

Ailing British postal and parcels delivery operator Consignia is next month expected to post losses of over £1 billion (€1.6bn; $1.5bn), its worst ever result.

The shortfall – which could be as high as £1.3bn – includes charges relating to the 30,000 layoffs planned by the group, as well as the closure of 3,000 urban post offices. In addition, Consignia continues to take heavy losses at its Parcelforce unit.

Data sourced from: BrandRepublic (UK); additional content by WARC staff