DX, a provider of delivery solutions including parcel freight, secure courier and logistics services, has reached an agreement over 15 UK sites that were previously operated by Tuffnells Parcels Express, which went into administration on June 12, 2023.
DX has signed an agreement with Interpath Advisory, the administrator of Tuffnells, for an initial license to occupy 13 former Tuffnells sites and agreed terms to purchase the freehold of a further site for £1m (US$1.3m) cash. The initial licenses are a precursor to entering into direct lease agreements. The company has also agreed terms directly with a landlord for a long lease over a 15th site.
DX has also engaged with former customers of Tuffnells to provide continuity in delivery solutions and has so far taken on over 550 clients on mutually agreeable commercial terms. Maintaining high customer service levels remains a priority. The company has also hired over 250 former employees of Tuffnells since the administrator was appointed.
These developments provide a significant opportunity for both the group’s divisions – DX Freight and DX Express.
DX intends to issue a trading update in mid-July, when it will provide commentary on the group’s performance in the second half of the current financial year ending July 1, 2023, and on its growth prospects.
Paul Ibbetson, CEO of DX Group, said, “This exciting development gives us significant additional capacity and will enable us to accelerate growth while also driving further operational efficiencies and maintaining our high service levels, which is critically important. We look forward to providing further employment opportunities.”
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