DX Group has sold five of its properties and taken a loan from its biggest shareholder to pay back a bank loan. The group has committed to a sale and leaseback of its sites in Thatcham; Basildon; Rotherham; Northampton and Nottingham. The deal with Chancerygate (Livingston) is due to complete on 29 September. The sale of the land is to repay a term loan to HSBC, and DX Group had considered selling its Willenhall freight hub in order meet the […]
Hicks Logistics has moved into warehousing after the acquisition of a 20,000ft² industrial unit next to its Caldicot base on the Severn Bridge Industrial Estate. The company hopes the diversification will boost its annual turnover from £7.5m to around the £10m mark, and has taken on ten more staff taking its team to 80.
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 extraordinary general meeting called for by a DX Group shareholder has been cancelled after the delivery company announced its intention to buy Menzies Distribution.