Kettering-based haulage company Knights of Old has gone into administration, resulting in the unfortunate redundancy of 730 employees. This company, which boasted a workforce of over 750 individuals, operated a substantial fleet of 350 trucks, 500 trailers, and managed 55,000 square meters of distribution space.
The financial turmoil within KNP Logistics Group, Knights of Old’s parent company, became evident when trucks were abruptly recalled to their base. KNP Logistics Group was established in 2016 following the merger of Knights of Old with Nelson Distribution Limited, Steve Porter Transport Limited, and Merlin Supply Chain Solutions Limited.
On Monday, September 25, Rajnesh Mittal and Philip Armstrong from FRP Advisory Trading Limited were appointed as joint administrators for the primary trading entities within the group. They attributed the company’s financial struggles to a ransomware attack in June of the same year.
Mr. Mittal explained, “Despite being one of the UK’s largest privately-owned logistics groups, KNP fell victim to a ransomware attack earlier this year that caused significant disruption. Faced with challenging market conditions and an inability to secure immediate investment due to the attack, the business was regrettably unable to continue its operations.”
