More bed banks admit they could drop principal status

Bed banks and will review their status as principals later this year following the decision by rival dropped principal status last month, blaming agents for being too price-driven., which acts as principal, has admitted it could become an agent by the end of the year.

Sales and marketing director Theo Demetriou said: “We are under pressure to be ­competitive on price. This is a difficult decision for us.” remains a principal but will consider its options later this year.

Sales and marketing director Paul Riches said most bed bankswould eventually act as agents.

He said: “Agents who are part of a consortium are ­already covered by their ATOLs and, eventually, all will have their own ATOLs, so there will be no need for suppliers to act as principal.”

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