Removing blank space in file

sususa · July 3, 2012, 2:09am

TT0000013101257

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     JCJMMUJMMUB018                                                                                                      
                                                                                                                         
           |        Jul  3 2012 10:56AM |
     JAMMU & KASHMIR                                                                                                     
                                                                                                                         
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     Hari Market                                                                                                         
                                                                                                                         
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     AIRCEL                                                                                                              
                                                                                                                         
           |            9018611387 |            9018721313 |            9858399311 |                  NULL

TT0000013101355

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     WCSNDASNDAB001                                                                                                      
                                                                                                                         
           |        Jul  3 2012 11:00AM |
     WEST BENGAL                                                                                                         
                                                                                                                         
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     Sanada                                                                                                              
                                                                                                                         
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     AIRCEL                                                                                                              
                                                                                                                         
           |            9331110289 |            9331896477 |            9804199329

I have data in pipe separated form.

I want to remove all blank space and show it in one line.

I tried "cat temp | sed -e 's/ *| */|/g'" but its giving me O/P like

plz suggest script

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