Logistics technology company Shift has swooped in on buying Tuffnells which has recently fired more than 2000 employees.
As reported by Sky News, the owner of Shift, Jacob Corlett made a deal with administrators at Interpath Advisory to buy Tuffnells’ brand as well as its intellectual property assets.
Along with a number of other parties who have not yet been named, Shift remains in talks with Interpath about buying up the leases to some or all of Tuffnells’ delivery depots around the country, of which there are 33.
The fate of Tuffnells’ former employees remains unknown and could be dependent on whether the new owner of the depots can keep the bulk of its client contracts.
Logistics Manager recently covered the story when Tuffnells initially culled its workforce.
“Tuffnells is one of the UK’s most recognisable logistics companies, which provides delivery services to over 4,000 businesses across the UK and this acquisition will significantly increase our logistics coverage across the country,” said Corlett.
“The acquisition supports our vision for Shift’s tech-driven logistics platform to disrupt both consumer and business logistics, through cutting-edge AI-driven routing decisions and driver management efficiency.”