More than 2,000 workers are set to lose their jobs at delivery giant Tuffnells as the business fell into administration.
Administrators are set to keep just 128 of the business’s staff after being appointed on Monday.
The Sheffield-headquartered company has 33 depots across the UK, and handles logistics to more than 160 destinations around the world.
The business has been under pressure since it was taken into independent ownership in 2020, hit by Covid-19 pressures, rising costs and increased competition, administrators at Interpath said.
After being appointed as administrator for Tuffnells, Rick Harrison, managing director at Interpath Advisory, said: “Unfortunately, the highly competitive nature of the UK parcel delivery market, coupled with significant inflation across the company’s fixed-cost base in recent times, has resulted in the company experiencing intense pressure on cashflow.
“Today’s news will be particularly devastating for Tuffnells’ 2,200 dedicated employees.
“Regrettably, with deliveries suspended and with no prospect of them resuming in the immediate term, we have had to make the majority of staff redundant.
“Our utmost priority will be to provide all those impacted with every support they need in making claims to the Redundancy Payments Office and minimising disruption to customers.
His colleague Howard Smith added: “Customers are advised that all transport hubs and depots have been closed until further notice.
“Our team will be making contact with customers over the coming days to arrange parcel collection.”
