Gregory Distribution Limited snapped up the business, assets and goodwill of collapsed Oxfordshire firm Interoute Transport Services for just £75,000, according to the firm’s administrators.

In a progress report, published last month, Quantuma adminstrators Carl Jackson and Kelly Mitchell stated that following their appointment on 17 May 2013 they closed the  loss making transport side of the business with immediate effect, making all drivers redundant.

However, the warehouse was kept running on a reduced basis, and a transport manager retained to organise customer deliveries for key customers, with the business being marketed for sale.

Gregory Distribution was one of four companies to submit a bid for the failed business, and with Interoute’s two major customers - Toshiba and Atlantic/Oasis – in favour of their bid .

The administrator’s report adds on this point that “Toshiba were satisfied with the terms offered and Atlantic/Oasis were keen to work with GDL”.

The deal also offered  most attractive terms for the warehouse landlord, leading to the deal being done in July of last year for a total consideration of £75,000 with payment in full.

Gregory Distribution acquired Interoute’s 120,000ft² warehouse operation on a leased site on Thame as part of the deal, which also saved 27 jobs.

Speaking last year chief executive John Gregory told Motortransport.co.uk the warehouse would  complement Gregory Distribution’s operations in Milton Keynes and Bicester.

He added at the time that the Interoute business would be integrated fully and that the name would not be retained. Nor would Gregory Distribution be handling Interoute’s deliveries for the Pall-Ex network.

Topics