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Red
Star Parcels Ltd
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RAILWAY BRITAIN |
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Red Star Parcels was a service which utilised passenger trains for transporting parcels between passenger railway stations throughout the United Kingdom, owned and operated by British Rail. Red Star Parcels no longer trades
although signage bearing the Red
Star logo can be seen at railway stations across the UK. In 1969 City Link Transport Services Limited (a private company) was established in order to offer a transfer service between London termini. Shortly thereafter City Link introduced the concept of same and next day delivery to the UK. The Government made several attempts to privatise Red Star Parcels. The British Railways Board attempted to sell it in June 1993, attracting seven bids. Only two were considered to be serious; and in November 1993 the board recommended that the sale be abandoned. In 1993-94, the Secretary of State for Transport attempted unsuccessfully to sell it off. Eventually Red Star Parcels Ltd went to a management buyout - Rald Ltd - in September 1995 with the privatisation of British Rail for the nominal sum of £1; they quickly announced a cut in staff from 452 to 250 as a result of the company franchising its collection and delivery service agents. In 1996 it was acquired by LYNX Express Ltd.In September 2005, LYNX was acquired by UPS for £55.5 million (US$97.1 million). At the time, LYNX was one of the UK's largest independent parcel carriers, majority owned by private equity firm Bridgepoint Capital. It had sales of $295 million (£170 million) for the fiscal year ended 2nd October 2004. LYNX Express Ltd remains a subsidiary company of UPS. LYNX Express www.lynx.co.uk UPS www.ups.com |