Last mile and cycle logistics firm Zedify goes into administration, 100+ jobs lost
Sadly, we’ve received news of cycle logistics firm Zedify appointing administrators.
Despite growing demand for sustainable delivery services, the company (Outspoken Logistics Limited, trading as Zedify) was unable to raise sufficient funding to continue operating, with the directors then taking the difficult decision to seek the appointment of Joint Adminstrators, Will Wright and Steve Absolom.
The company’s hubs in Cambridge and Edinburgh remain operational, with 38 employees retained while the administrators explore options. In addition, the Bristol hub is operated by a different legal entity and continues to trade. Zedify recently opened its tenth logistics hub in Birmingham and an “orderly wind-down” of the remaining businesses is underway, with seven of the hubs closing. Regrettably, 105 employees have been made redundant. The Joint Administrators will be working with customers to ensure minimal disruption to their network and clients.
Cycle logistics firm Zedify is reportedly the UK’s largest electric cargo bike delivery network, a trailblazer and award winner in the field, serving the likes of high street retailers, parcel carriers and independent businesses.
Ravi Patel from Interpath, who is leading the sale of the Company’s business and assets, said: “Zedify was considered a pioneer within the logistics market, being the UK’s first cargo bike delivery service with a zero-emission, last-mile delivery model. We are working to explore all options and are seeking buyers for the business and its assets, including its fleet of electric bicycles and their associated intellectual property, as well as the Zedify brand.”
Steve Absolom, Managing Director at Interpath and Joint Administrator, said: “We understand news of the Company’s insolvency will be devastating to its team of employees. We’ll endeavour to provide support to those impacted by redundancy, including assisting them with claims to the Redundancy Payments Service.”