Logistics group takes over nine Tuffnells depots

Logistics firm Shift has taken on nine depots from Sheffield’s Tuffnells Parcels Express, which went into administration earlier this month.

The new deal with the London firm, which had previously bought Tuffnell’s brand and IP in a deal with administrators Interpath Advisory, means 24 of Tuffnell’s de[pots have now been acquired. Interpath announced on Thursday that DX Logistics had acquired 15 depots and recruited 250 former Tuffnells employees.

Sheift also said its acquisitioin would mean employment opportunities for former Tuffnells staff.

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