DX Group has had its revised planning application for a ‘super hub’ at Essington in the West Midlands rejected by the local council. The rejection follows the group’s profit warning last month, which it attributed to continuing challenges in the courier market and margin pressure in its freight business. DX Group had planned to move its headquarters and 550 staff from its current base in Willenhall to the 44-acre site, which would create another 150 jobs. However continued opposition from local […]
DX Group’s largest shareholder has slammed the proposed acquisition of John Menzies Distribution, deeming it a bad deal for shareholders, an attempt to distract from “terrible” operating results and a “face saving exercise for the DX board”.
The deal that would have see DX Group acquire Menzies Distribution has been called off, and a new board of directors is set to be installed at DX under the guidance of its largest shareholder – Gatemore Capital Management.
DX Group made a pre-tax loss of more than £80m in the year ended 30 June 2017.