UK Pallets is to close, after parent company UK Mail pulled the plug following years of poor profitability. The closure will cost UK Mail £1m, plus asset write-downs of £2m. In a trading statement to investors UK Mail said the closure of the pallet network would be managed over the next three months, as it sought to ensure that all employees and customers were properly supported. It added that a number of its employees would be able to take up […]
UK Mail’s bull run couldn’t last. After hitting the heights of 510pence per share last week, following a stellar set of results, it has drifted back slowly to 497p as of today – still significantly higher than the 445p the week before its full year results. Not bad work in a fortnight. But it has still helped the MT basket of six shares hit a new high for the year: £18.67…
UK Mail chief executive Guy Buswell (pictured) has stepped down with immediate effect, after the installation of incompatible parcel sorting technology at its purpose built new hub.
Logistics and manufacturing associations have warned that Tata’s decision to sell off its steel operation in the UK will have major repercussions on the wider economy unless a buyer is found.