HSBC’s Heavy Losses From Logistics Collapse
HSBC is now attempting to limit the damage from the 2024 collapse of Logistics Group, the parent company of Yodel and Arrow XL. According to a report filed at Companies House by insolvency specialists Teneo, the bank has recovered only £1.1 million of the £143.5 million owed — roughly 0.78 pence in the pound — after administrators were called in.
The bankruptcy proceedings are not believed to affect The Telegraph, as the Barclays no longer hold an economic stake in the newspaper.
Telegraph Sale and Government Roadblocks
The family sold its interest in The Telegraph to RedBird IMI, a consortium majority-funded by the United Arab Emirates. However, the takeover ultimately collapsed after the UK government introduced new laws barring state ownership of British newspapers.
Those same Gulf backers are now pursuing the Barclays themselves. International Media Investments, which financed RedBird IMI, seized control of the family’s property arm, Trenport Property Holdings, last month after helping clear debts owed to Lloyds in 2023.
Meanwhile, The Daily Mail has lodged a £500 million bid for The Telegraph, a proposal currently under review by Culture Secretary Lisa Nandy.
