A Newport-headquartered haulage company trading since 1998 entered administration and was then snapped up by Monex Distribution, in a deal that saved 61 jobs.
Freight Movement brought in administrators at Begbies Traynor on 6 March following the closure of a depot, rising costs and bad debt.
Monex Distribution, part of the family-owned haulage network Monex Group, swiftly acquired the business and assets, with an option on Freight Movement’s 50,000sq ft depot, through a pre-pack administration process.
Begbies Traynor said this outcome delivered the best return for creditors and meant no disruption to deliveries and services for customers.
At its peak, Freight Movement operated a comprehensive fleet of vehicles within the contract logistics, pallet network and general haulage sectors ranging from small consignments to full loads. It also provided ad-hoc shipments and next day services.
It holds a licence for 40 HGVs running out of two Newport bases and one in the west of England traffic area that allows 15 lorries out of operating centres in Bristol and Cheltenham.
James Howells, group chief executive at Monex Group, said: “We are very happy to have come to an agreement to acquire such an established company with a strong heritage and to preserve the many skilled employees at Freight Movement in the process.
“The company has established a strong network over the course of almost three decades and we’re looking forward to breathing life back into it by joining together our teams.
“Under the Monex Group banner we fully believe there is significant potential within this business and it can grow once more. With its location in the UK and connections beyond the new addition to our family makes us stronger and even more competitive.”
In its last set of accounts, for the period ending 30 November 2024, Freight Movement said it had made “a strategic decision” to vacate its depot in Bristol.
“Following this restructuring, the company continues to operate from its remaining depots in Newport and Cheltenham,” it added.
“These locations are supporting a strong and growing customer base.”
Begbies Traynor had not confirmed whether this depot’s closure had contributed towards its revenue losses as Motor Transport went to press.
Huw Powell, partner at Begbies Traynor, said: “The haulage sector has faced significant challenges post Brexit and Covid with well-publicised shortages of drivers and increased costs making utilising capacity and achieving profitability hard to attain for smaller businesses.
“Despite 26 years of trading and previously seeing out difficult times over the years, Freight Movement has been unable to overcome these challenges, but we are delighted to have secured a sale to Monex Group.
“As the company was experiencing severe cash flow issues, a pre-packaged sale was required to ensure this outcome whereby employee jobs have been preserved and clients should experience no disruption to services.
“As part of the Monex Group, the former employees and clients of Freight Movement are in good hands and we’re sure we can see the business re-establish itself and grow in the future.”
At the end of December 2025, Monex Distribution said it had acquired Lancashire-based Richardson Traction in order to expand its business into the North West.
