Connect Group has warned its performance since May has been “slightly below” market expectations, as it revealed that its plan to slash group debt through the sale and leaseback of property had hit the buffers. In a trading update today (13 August), the group said that “due to the current market conditions and outlook” bids received during the tender process for the 16 freehold and long leasehold Tuffnells properties, which were expected to raise £35m before tax, “did not meet […]
Tuffnells has completed the roll out of more than 35 rebranded semi-trailers, as part of a revitalisation of the loss-making irregular dimension and weight specialist.
Connect Group’s CEO and CFO are to leave the business and its Pass my Parcel network will be closed, following a grim trading update that laid bare significant challenges at Tuffnells.
Tuffnells Parcels Express, part of Connect Group, has been fined £1.5m after a driver died when he was trapped between a trailer and his vehicle.