Thousands of businesses in the UK face major disruption as Tuffnells, one of the country’s largest logistics companies, prepares to appoint administrators.
The company called back all drivers to its depots on Friday and is expected to formally announce administration after a national meeting on Monday.
Tuffnells has over 4,000 business customers and operates in 167 countries. Its clients include Evans Cycles, Black Circles, and Spalding. Tuffnells was owned by Connect Group, formerly known as WHSmith News, before it was sold to turnaround investment specialist Broad Oak Support Services for £15m in 2020. Although it was sold for a modest sum, the company generated £178m in annual revenue and £5.5m of pre-tax profit in 2021.
The prospective administration comes only 48 hours after DX, a delivery company, settled a legal dispute with Tuffnells. TLT LLP, a law firm, filed a notice of administration on behalf of Tuffnells on Friday. The company has 2,300 employees, who were instructed to go home on Friday afternoon. Nevertheless, the company has claimed to be an expert in handling large, bulky items.
The logistics company was founded in 1914 by Harold Tuffnell, who used £100 from his pocket to buy a horse and cart for making deliveries. Its most recent owner rebranded from Smiths News to Connect Group in 2020.
