Channel Islands freight Co Condor Logistics to close.
8th October, 2012
Shipping company Condor Group is closing its logistics division with the loss of 110 UK jobs, most of them in Portsmouth.
The firm blamed a reduction in demand for haulage services, caused by the economic downturn.
It said workers would be able to apply for other roles within the company but there would also be redundancies.
Another 70 jobs will go in the Channel Islands but the plans do not affect Condor Ferries.
The company also said its trade had "declined substantially" after the scrapping in April of Low Value Consignment Relief, which allowed companies based in the Channel Islands to send low value goods to the UK without paying VAT.
Condor Ferries which remains unaffected by the closuresoperates fast and conventional sailings between the UK, the Channel Islands and France. The services experienced a number of delays and cancellations in summer 2012 following due to poor weather and engine problems.