Lease Deal Hell For Charity Facing Ruin
Daily Express|September 21, 2020
Lease Deal Hell For Charity Facing Ruin
How has a charity’s leasing deal for two second-hand printers left it desperately fending off a £96,000 action, mired in broken promises and on the brink of ruin?
Maisha Frost

The Missing Kind (TMK), which has centres in Norwich and Devon supporting the vulnerable and lonely, claims it was “duped” by supplier Plan Corporate Services (PCS) which provided the extraordinarily expensive contract.

Instead of three new printers and ink, cover for initial leasing payments plus a £10,000 donation and a cancellation opt-out after 12 months, TMK got two used machines, worth at most £6,000, and is tied in to huge repayments for five years.

So far it has repaid £8,300. Finance for the deal was supplied by Grenke Leasing Ltd, part of German giant Grenke AG. Although PCS has a registered address in Cambridge and is listed on Companies House as actively trading, Grenke has turned its fire power on the charity in a bid to retrieve the hefty sum that it says represents its outlay and profit.

articleRead

You can read up to 3 premium stories before you subscribe to Magzter GOLD

Log in, if you are already a subscriber

GoldLogo

Get unlimited access to thousands of curated premium stories, newspapers and 5,000+ magazines

READ THE ENTIRE ISSUE

September 21, 2020