Principle Pallet Network’s bid to become the UK’s ninth pallet network has ended in failure, it's former boss has confirmed.
The network, originally set up by ex-Fortec directors Marcus Fischer and Neil Hodgson, was due to debut operationally in 2016 but did not deliver within that time-frame.
Having remained under the radar since, the network secured a central hub earlier this year, and seemingly renewed momentum, with the former Birds Transport site at 1 Parsonage Street, Oldbury, Birmingham its new home.
However, a source within the pallet network sector told MT that Principle had now left the location. Calls to its dedicated business line no longer complete, and although its website remains active, emails sent over the past few weeks to its membership enquiry service have not received a response.
MT called a business near the Parsonage Street site last week and was told Montgomery Transport vehicles were operating out of it. A call to the haulier's owner Ballyvesey Holdings was initially routed to the Parsonage Street location and a Montgomery employee.
However, Ballyvesey Holdings, which owns the former Birds Transport site, declined to officially comment on the matter when approached.
After this article was published, Adam Leonard, the MD of the Principle Pallet Network, contacted MT to confirm that "sadly the project is no more". He was unable to provide more detail at this time.
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However, Leonard told MT at the end of July that the future of the fledgling network would be settled within days at an investors’ meeting. He was bought in earlier this year, as founders Hodgson and then Fischer departed the business, in a bid to get it back on track.
He said that “at this stage the business is not in administration and no member of staff has been made redundant, although some have left”.
“There are issues around what was done prior to our involvement at the network,” he added, referring to his appointment and that of ex-Nightfreight boss Robbie Burns and entrepreneur Piyush Shah as directors.
The three remain listed as directors at Principle Pallet Network and its parent company Principle Group, according to Companies House.
Principle Group has one County Court Judgment for £3,008 outstanding against it.
