Latest hub of electric cargo bike firm calls in administrators
The Bristol-based operation of electric cargo bike delivery network Size Works, trading as Zedify, has fallen into administration, a move which sees almost 50 redundancies.
The news comes just weeks after Outspoken Logistics, trading as Zedify, appointed administrators after failing to raise more funding, resulting in the loss of 105 jobs.
Based in Bristol, Size Works is a subsidiary of Outspoken Logistics, which traded as Zedify, and which itself was placed into administration on January 31.
On February 13, Will Wright and Steve Absolom of Interpath Advisory were appointed as administrators for Size Works – the same advisory firm instructed for Outspoken Logistics.
Following the appointment of the joint administrators, the business ceased to trade and all of the company’s 47 employees were made redundant.
Steve Absolom, managing director at Interpath and joint administrator, said: “Unfortunately, the insolvency of Size Works’ parent company and the subsequent loss of funding has forced the operations in Bristol to close.
“As a priority, we will be providing any and all support to those employees who have been impacted by redundancy, including supporting them with claims to the Redundancy Payments Service.”
Founded in 2015, Zedify provided zero-emission last-mile logistics services for companies including high street retailers, parcel carriers and independent businesses.
The Birmingham-headquartered firm had grown rapidly and recently opened its tenth logistics hub in the city.
Zedify had secured a £4m investment from Barclay’s Sustainable Impact Capital, Mercia Ventures, and Green Angel Syndicate last year, as it looked to expand into more UK cities.
The investment followed a £5m funding round in March 2023 from the same investors, which led Zedify to grow from 113 to 209 employees and sign up brands like Hello Fresh, Selfridges, and Veja.
