Red Star Parcels (Hansard, 8 December 1992)

§ Mr. Alton
To ask the Secretary of State for Transport when he expects the completion of the privatisation of Red Star.

§ Mr. Freeman
The Secretary of State for Transport gave the British Railways Board approval in principle on 7 October to proceed to the sale of Red Star. The timing of the sale itself is the responsibility of the Board.

§ Mr. Alton
To ask the Secretary of State for Transport what estimate he has made of the effect on employment of the privatisation of Red Star Parcels.

§ Mr. Freeman
The manner of the disposal of Red Star Parcels is a commercial matter for the British Railways Board. Red Star has been loss-making for a number of years. Action will be necessary to return the business to profitability, whether in public or private ownership.

§ Mr. Alton
To ask the Secretary of State for Transport how many bids or expressions of interest for Red Star Parcels have been received since his announcement in October that it was to be sold off.

§ Mr. Freeman
The British Railways Board is handling the sale of Red Star Parcels, and will be issuing invitations594W to tender in due course. All expressions of interest in Red Star directed to the Department of Transport have been referred to the British Railways Board.