Connect Group is set to complete a £9.9m deal with property firm Urban Logistics for the sale and leaseback of six of Tuffnells’ depots, in a move aimed to cut the company’s debt. The six depots are located in Andover, Coventry, Leighton Buzzard, Newport, Perth and Plymouth. Connect’s original aim to sell the entirety of Tuffnells’ property portfolio of 37 depots had to be scaled back this summer after it failed to find a buyer. This latest deal is part […]
Tuffnells Parcels Express MD Chris Ward is leaving the business following its integration within parent company Connect Group.
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.
The Big Green Parcel Machine is continuing to exceed Connect Group’s expectations.