Administrators appointed to delivery business

Rick Harrison and Howard Smith from Interpath Advisory were appointed joint administrators to Tuffnells Parcels Express Ltd last month.

Headquartered in Sheffield, and with 33 depots across the UK, Tuffnells is a leading distributor of mixed freight, and a specialist in handling items of irregular dimension and weight (IDW), including furniture. The privately owned business delivers both within the UK and internationally, handling logistics to over 160 destinations worldwide.

The company returned to private ownership in 2020, when it was acquired by Palm Bidco. Since then, states Interpath, it 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.

Rick Harrison, MD at Interpath Advisory, says: “Tuffnells is one of the UK’s most recognisable logistics companies, providing delivery services to over 4000 businesses across the UK under its The Big Green Parcel Machine brand. Unfortunately, the highly competitive nature of the UK parcel delivery market, coupled with significant inflation across the company’s fixed cost base in recent times, has resulted in the company experiencing intense pressure on cash flow.”

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