DX Group re-opens Tuffnells depot
Listed 3PL DX has opened the first of 15 Tuffnells sites that it acquired following Tuffnells’ fall into administration in late June this year.
By Liza Helps, Property Editor Logistics Matters
It has reopened the 15,800 ft2 depot in Newport, South Wales which it will use to support its DX Freight division specialising in irregular parcel and good delivery and two man logistics services.
DX secured and agreement with administrators for the acquisition of nearly half of the 33 UK sites operated by Tuffnells. It has signed an agreement for an initial licence-to-occupy 13 former Tuffnells sites and agreed terms to purchase for £1 million cash the freehold of a further site. The initial licences are a precursor to entering into direct lease agreements. The Company has also agreed terms directly with a landlord for a long lease over a fifteenth site.
DX has hired over 250 former employees of Tuffnells since the administrator was appointed.
The Company has also engaged with former customers of Tuffnells to provide continuity in delivery solutions and, so far, has taken on over 550 customers on mutually agreeable commercial terms.
The agreement came weeks after the two companies settled a legal claim in relation to confidential competitor information being obtained by DX in the past in exchange for an offer of payment. The confidential settlement was reached without any admission of liability.
