The deal will see Shift buy the century-old brand and its intellectual property assets from administrators Interpath Advisory. Discussions are ongoing for Shift to potentially acquire the leases of Tuffnells’ 33 delivery depots across the UK, along with other interested parties whose identities have not been disclosed.
According to Sky News, this acquisition is a significant step in Shift’s strategy to establish itself as a leading logistics technology powerhouse. With customers such as Homebase and IKEA, Shift aims to leverage Tuffnells’ well-established brand in the UK market.
Tuffnells Parcel Express has a customer base that includes Evans Cycles, a retailer owned by Mike Ashley’s Frasers Group.
As we have earlier reported, factors such as the pandemic, rising inflation and increased competition were blamed for Tuffnell’s bankruptcy.
The company’s collapse has led to the loss of more than 2,000 jobs and the fate of Tuffnells’ remaining staff will depend on the new owner’s ability to retain customer contracts, according to Sky News.
Tuffnells serves more than 4,000 business customers, making its future crucial to maintaining essential delivery services.
Photo credits @ Graham Richardson from Plymouth, England, CC BY 2.0, via Wikimedia Commons