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 […]
Connect Group reveals more details of strategic review of troubled Tuffnells business as CEO steps down
Connect Group has revealed further details of the strategic review of its troubled Tuffnells business after announcing that CEO Jos Opdeweegh has stepped down.
Tuffnells owner Connect Group is to sell its care and education division in order to focus on the growth of its parcels and news services.
Tuffnells Parcels Express MD Chris Ward is leaving the business following its integration within parent company Connect Group.