Deal safeguards more than 150 jobs at airfreight industry logistics firm
More than 150 jobs have been safeguarded after administrators secured a rescue deal for a logistics provider which offers specialist services to the airfreight industry.
Circle Express, a logistics company, specialising in the next-day and same-day delivery across the UK, appointed Dean Watson and Paul Stanley of Begbies Traynor as joint administrators on before Christmas.
The business and assets were subsequently acquired by Trilogy Logistics, a Manchester-headquartered logistics provider, which has a further office in Slough and offers specialist services to the airfreight industry, saving all 158 jobs at the UK logistics firm and bringing it under new ownership.
Administrators said the newly revealed deal meant there was no disruption to business services allowing customers to be serviced and employees paid on time.
Circle Express is headquartered in London Heathrow with depots in Aberdeen, Birmingham, Exeter, Manchester and Glasgow.
The administrators were supported in the transaction by Browne Jacobsen and Eddisons.
Craig Mills, managing director at Trilogy Logistics Ltd, said: “Getting this deal completed quickly and ensuring that employees were paid on time was very important to us.
“Circle Express has a good reputation in the industry and may have run into financial difficulties, but with some restructuring of its activities, it has the ability to be a successful business the future supporting continued employment.
“The business, and its talented employees, have the potential to thrive and we aim to help them do that as part of Trilogy Logistics. We are now looking forward to creating a bright future for the business and workforce in 2026.”
Dean Watson, partner at Begbies Traynor, added: “Circle Express was long established, but it fell into financial difficulties and had to be placed into administration.
“The directors of both Circle Express and its new owner made it clear they wanted to see the employees and their wages protected, therefore we needed to act quickly.
“Working under strict deadlines we were grateful to get this transaction completed before entering the Christmas period.”
More on Circle Express here
