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 signed the first ever candidate to the government’s Express Logistics Sortation Apprenticeship scheme, funded by the apprenticeship levy.
Connect Group has completed its takeover of Tuffnells Parcels Express, with the deal first revealed last month.
Three of Tuffnells’ former directors have returned to the company, following its management buy-out from the Connect Group in May this year.