Lloyd Dunn has been appointed CEO of DX Group, which has secured £24m from investors to get the business back on track. Former Tuffnell’s chief executive Dunn has put £5m into the business in the form of a loan note. DX Group’s largest shareholder Gatemore Capital Management has put forward £11m, including the £2m unsecured loan that was announced last month, and Hargreaves Hale £7.5m, all in the form of loan notes. The loan notes can, subject to shareholder approval, […]
Connect Group has seen its annual profit collapse by more than 200% after a calamitous period, which saw its one time star-performer Tuffnells lose its way and attempts to restructure the group hit the wall.
DX Group has sold five of its properties and taken a loan from its biggest shareholder to pay back a bank loan.
The DX Group and John Menzies Distribution merger could be sealed this summer after both boards approved a revised offer that satisfies objections from a major shareholder.