Fastway collapse ‘like something out of Netflix ’ – Offaly TD calls for full investigation

OFFALY TD Tony McCormack has called for a full investigation into the collapse of Fastway Couriers, saying that the treatment of employees and franchise owners has been “nothing short of scandalous” and warning that the entire operation “sounds more like a pyramid scheme than a legitimate business.”

Speaking in the Dáil this week, Deputy McCormack said the Government must act urgently to uncover what really happened within the courier company, following its sudden closure which has left workers and small business owners in financial ruin.

Deputy McCormack told the Dáil that his office has been in contact with numerous people affected by the Fastway closure — both employees and franchise owners — and that the stories emerging are “deeply troubling.”

“Over the past two years, conditions within the company deteriorated significantly,” he said. “Many people now question the takeover of Fastway in 2022 — whether it was a case of vulture capitalism, and more seriously, whether fraud or serious mismanagement was involved.”

Franchise owners, he said, had described a pattern of missing invoices, payments being delayed or held back, and commissions not being paid. “Many were struggling just to keep their businesses afloat, waiting on money that never came,” McCormack said.

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He also cited “shocking” accounts from franchise owners about company practices. “I’ve been told of polygraph machines being used during franchise interviews, and of large cash payments being requested as part of the purchase process. That raises real questions about transparency, legality, and oversight.”

McCormack highlighted the plight of new franchisees who only joined the company recently, saying many made large financial investments, often by borrowing heavily or using personal savings.

“These were people who believed they were investing in a growing business,” he said. “Now they’re left with nothing but debt, stress, and heartbreak.”

One case he shared involved a franchise owner now facing personal insolvency. “He is owed around €50,000 by the company, and in turn owes roughly the same amount to Revenue. He had hoped the Christmas and New Year period would allow him to recover financially and move on, but instead he’s been left with absolutely nothing. It’s devastating.”

Deputy McCormack said the structure of the company and the way franchisees were treated bore all the hallmarks of a pyramid-style operation.

“The more I hear about how this system was run, the more it sounds like a pyramid scheme,” he told the Dáil. “In fact, it sounds like something you’d see in a Netflix documentary rather than in modern Irish business.”

He called on the Tánaiste and Government to confirm whether any investigation is currently underway into the management, ownership, and conduct of Fastway since the 2022 takeover. “If there isn’t one,” he said, “then there absolutely should be. We need transparency, accountability, and justice for the people who have lost so much.”

In a follow-up question, McCormack urged the Government to set up an emergency relief fund or support mechanism for those directly affected by the collapse.

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“These are working people and small business owners who believed they were building a future for themselves,” he said. “They deserve immediate support while investigations are ongoing — and full transparency about what went wrong.”

Deputy McCormack’s intervention has struck a chord with small business groups and workers across the courier and logistics sector, who say the Fastway collapse exposes major flaws in how franchise models are monitored and regulated in Ireland.