---
title: "HSBC owes £143m to Barclay Family’s collapsed Logistics Company"
publisher: "Stockmark.IT"
author: "Stockmark.IT Website"
published: "2024-06-03T05:42:16+00:00"
modified: "2024-06-03T05:42:16+00:00"
date: 2024-06-03
canonical: "https://stockmark.it/hsbc-owes-143m-to-barclay-familys-collapsed-logistics-company/"
category: "Business"
categories: ["Business", "Financial"]
image: "https://i0.wp.com/stockmark.it/wp-content/uploads/stencil.default-73-1.jpg?fit=1200%2C800&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# HSBC owes £143m to Barclay Family’s collapsed Logistics Company

**Published:** June 3, 2024
**Author:** Stockmark.IT Website
**Categories:** Business, Financial
**Featured image:** ![HSBC and Barclays buildings in Canary Wharf, London. from Stockmark.it](https://i0.wp.com/stockmark.it/wp-content/uploads/stencil.default-73-1.jpg?fit=1200%2C800&quality=89&ssl=1)

---

New documents reveal that HSBC is facing steep losses due to the collapse of Barclay’s vast business empire.

The British banking giant owes £143m to the Barclay Family’s delivery company, which went into administration in March.

Teneo, which is overseeing the administration, has warned that based on current forecasts, the bank will not be paid in full.

The Logistics Group’s documents, which include the delivery company Arrow XL, and formerly Yodel, show HSBC, as its only secured creditor, how much financial pressure it faces. Teneo estimated that it could recover £57.5m if Arrow XL was sold, as this is the main asset of the company.

The Logistics Group went into administration in early this year when HSBC demanded payment of money owed.

The collapse of the company was another blow to the Barclays, who were recently forced to sell their online retailer Very Group to pay off its growing debt.

At the time that The Logistics Group failed, brothers Aidan and Howard who oversee Barclays’ shrinking business empire were listed as directors.

Administrators warned that “significant borrowing levels” would have to be restructured to save the business.

The statement continued: “However, given the value of the assets, it appears unlikely that this will be achieved”.

Barclays also tried to sell The Telegraph and The Spectator, to RedBird IMI, to pay off debts owed by Lloyds Bank.

The Government blocked the deal due to concerns over foreign state ownership in the media. RedBirdIMI, an investment fund that is largely supported by Sheikh Mansour Bin Zayed al-Nahyan (an Emirati royal and deputy prime minister of United Arab Emirates), is a fund with a large Emirati royal as its backer. The Telegraph is now up for sale again.

The Logistics Group’s latest financial statements show a loss for the year ended June 2021 of £8.9m, a huge swing from its profits of £91.4m posted in 2020.

The Logistics Group is also owing debts totaling £18,3m to 10 other creditors.

The Barclays declined to comment. HSBC has been contacted to provide a comment.

---

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