61 jobs saved as Monex Distribution acquires Freight Movement Limited from administration

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.

Serving blue chip clients and small businesses, it delivered across the UK and its partners delivered to Europe and beyond. It handled a wide range of goods including automotive, marine, industrial, construction, home furnishings, garden furniture, fine art, toys, giftware, electrical products, as well as exhibition and live event cargo.

James Howells, Group CEO at Monex Group Limited, 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."

Huw Powell, partner at BTG, 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.

"We would like to thank Paul and Sam Hurley for their support, plus the leadership team at Monex Group for achieving the sale in rapid time. We would also like to thank Blake Morgan, Gavel Auctioneers, NP Linnells and PME Consulting Services for supporting the company and administrators as well as RDP Law acting for Monex on the transaction for making this all possible by acting quickly throughout the process."