Parisian taxpayers bail-out hire scheme and prompt fears for London cycle hire project

Bike hire costs set to rise?

Rising costs for the Paris cycle hire scheme have caused concern about the forthcoming London cycle hire project, according to the Evening Standard.

The French scheme, which had been paid for through advertising, is now set to receive cash from Parisian taxpayers following theft and damage of the hire bikes.

Advertising firm JCDecaux is now also set to share in the scheme’s profits in return for helping cover extra costs.

8,000 of the £550 costing bikes have been stolen, while 18,000 were damaged beyond repair. Some of those stolen bikes have reportedly appeared in Africa and Australia.

It is hoped that the London Cycle Hire Scheme will generate 40,000 extra bike journeys in the capital.

In other news...

FRP Advisory issues update following 2Pure administration

The administrators of 2Pure have issued an update following the distributor’s administration earlier this month. …