The joint administrators of Tuffnells Parcels Express Limited announce that they have reached agreements which secure the future of 24 Tuffnells depots.
DX (Group) plc, the provider of delivery solutions, including parcel freight, secure courier, and logistics services, has reached agreement to take on 15 Tuffnells sites, across the UK, including the outright purchase of the freehold of one site for a total of £1 million in cash.
Since Interpath Advisory’s appointment as administrators, DX has recruited over 250 former Tuffnells employees, and is now actively looking for further staff. Anyone interested in considering the opportunities available should contact DX via the following email address: [email protected].
DX has also engaged with former customers of Tuffnells to provide continuity in delivery solutions and, so far, has taken on over 550 customers on mutually agreeable commercial terms. Maintaining high customer service levels remains a priority.
Separately, Shift has reached an agreement to take on nine sites. This follows Shift’s acquisition of the Tuffnells brand, IP and other assets out of administration on 23 June 2023, and also presents further re-employment opportunities for Tuffnells employees. Shift has been receiving expressions of interest from former Tuffnells employees via a dedicated link on the Tuffnells’ website and looks forward to welcoming them back into their positions at the new Tuffnells.
Rick Harrison, managing director at Interpath Advisory and joint administrator, said: “We are delighted to have reached these agreements which will see 24 Tuffnells depots reopen, and which we hope will create a significant number of jobs for those Tuffnells workers who were impacted by redundancy. We’d like to thank all those stakeholders who have helped to get these agreements over the line in such a short timeframe, and wish both DX and Shift the very best of luck for the future.”
Paul Ibbetson, Chief Executive Officer of DX (Group) plc, said: “We are very pleased to have reached agreement over 15 former Tuffnells sites, including the outright purchase of a freehold site. This exciting development gives us significant additional capacity and will enable us to accelerate growth while also driving further operational efficiencies and maintaining our high service levels, which is critically important.
”We have already taken on a significant number of former Tuffnells employees and look forward to providing further employment opportunities as we continue the DX success story.”
Jacob Corlett, CEO of Shift, said: “We have secured a future for Tuffnells and are well on the way to launching 25 depots, part of this includes taking on nine of the original Tuffnells depot network that have been chosen for being strategically well positioned and suitable for our plans to invest significantly in onsite technology. This enables us to provide employment for several hundred former employees. We intend to relaunch Tuffnells in July when, with our tech overlayed and integrated, it will be an operationally efficient business with significant potential for the generation of ongoing and profitable growth. We are genuinely excited by the prospect and look forward to welcoming back former Tuffnells customers, partners and employees to the Shift family.”
Thomas Swiers from Interpath Advisory led the negotiations, alongside the joint administrators Rick Harrison and Howard Smith. The team at Interpath was advised by Cathryn Williams, Paul Muscutt and Philippa Lai at Crowell & Moring, as well as Jon Cookson and Scott Marriott at Hilco Global Real Estate Advisory and Paul Pilling from Hilco Valuation Services