Logistics company acquires Tuffnells assets following administration

Logistics company Shift has acquired assets from collapsed delivery specialist Tuffnells after it was placed into administration.

Rick Harrison and Howard Smith from Interpath Advisory were appointed joint administrators to Tuffnells Parcels Express Limited on 12 June 2023.

A short statement said: “On 24th of June 2023, Shift acquired the Tuffnells brand, IP & selected assets out of administration with the intention to get Tufnells operations re-setup and back trading.”

Shift, which has been established since 2017 and has clients including Homebase and IKEA, is also understood to be in talks with administrators to acquire leases on all or some of Tuffnells’ 33 delivery depots around the UK.

Headquartered in Sheffield, Tuffnells is a leading distributor of mixed freight, and is a specialist in handling items of irregular dimension and weight (IDW). The privately-owned business delivers both within the UK and internationally, handling the logistics to over 160 destinations worldwide.

The Company returned to private ownership in 2020 when it was acquired by Palm Bidco Limited. Since then, the Company has had to navigate a number of pressures which have impacted trading, including the impact of COVID-19, high cost inflation and an increasingly competitive market. In recent weeks, the financial position of the business was such that the Company needed to seek additional financial support. After a number of options were explored, the directors took the difficult decision to seek the appointment of administrators.

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