Fashion is out of style at T&B

Closing its UK fashion logistics business will cost Tibbett & Britten £800,000 (€1.24m).
The UK-based international haulage and logistics provider released a trading statement last week ahead of 2002 interim results, and said: “During the first six months, management attention was focused on the group’s development of its core contract logistics and supply chain operations.

“Accordingly, the closure of the fashion network in the UK was accelerated, with most of the larger contracts converted to dedicated contracts.” The process is expected to be completed by the end of the month.

Tibbett & Britten is cutting costs by £600,000 (€934,000) in its Argentine business, which is expected to make a small loss as a result of the financial crisis there. Overall group trading is reportedly in line with expectations.

Posted: 08/07/2002