‘Dragons’ and JPM Eco Logistics

A STORY in last Friday’s Chronicle (February 20) about the collapse of haulage company JPM Eco Logistics, which won the financial backing of entrepreneurs Theo Paphitis and Deborah Meaden in the TV programme “Dragons’ Den”, did not make it clear that the two investors took no part in the day-to-day running of the company and were, therefore, not responsible for the company’s drivers losing their jobs.

A spokeswoman for the investing “Dragons” said: “It is a matter of great concern for the Dragons to hear that the drivers have not been paid. They have clearly been badly let down and unfortunately this is something completely out of the control of the Dragons.

“The investors have also been let down by the JPM Eco Logistics’ management, losing the initial £100,000 invested plus a further £27,500 they gave to the management in September last year to pay their bills.”

A second story (February 24) said that investors asked for fuel to be mixed to combat price rises and we wish to make it clear that the Dragons were not involved in this request.

We hope that this clarifies the position and we apologise for any confusion arising from our stories.