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Up to 300 jobs are at risk after the company behind Fastway Couriers Ireland has confirmed it has gone into receivership. Staff were notified on Tuesday about the potential job losses. The company said inflation, rising operating costs and price pressures across the parcels market have made the business "no longer viable". In a statement, a spokesperson for the Nuvion Group, which includes Parcel Connect, Fastway Couriers Ireland and Nügo said: “Delays and disruption are envisaged and the receivers will work with retailers to minimise such delays. "We want to sincerely thank our employees, franchisees and customers for their continued understanding and support during this difficult time.” Cork-based Fastway driver Declan Kelleher told the Cork's 96FM Opinion Line said the news came completely out of the blue, just eight weeks before Christmas. “We knew the company was restructuring and were told there was investment coming, so we didn’t think anything would happen before Christmas, there were 150,000 parcels in the network yesterday, so it wasn’t quiet by any means.” Kelleher said that despite delivering two full vans of parcels on Monday, he returned to find the depot sealed. “At about 4 p.m., four gentlemen who were the receivers entered the building. Word spread quickly that something was going on. By 5 p.m., we were told the company had gone into receivership and we couldn’t take anything in or out of the building.” Many of Fastway’s couriers are owner-drivers, who purchase and operate their own routes under a franchise model, and Declan told the station he and others are owed several weeks’ pay. “We work four weeks in hand. They’re holding four weeks’ money on me for two to three vans, and others have even more. Some lads are in deep trouble.” Customers are also expected to face delays and disruption over the coming days as some parcels are in transit or still at their Letterkenny depot. Mark Degnan and Brendan O’Reilly of Interpath Advisory have been appointed as receivers.
