Major UK agency purchased out of administration as 61 jobs saved
Freight Movement Limited, a family transport business based in Newport, South Wales, has been bought out of administration by Monex Distribution Ltd, preserving 61 jobs
The headquarters of the company is in Newport, South Wales(Image: Getty)
A UK family transport firm that entered administration has been rescued, preserving 61 jobs and the logistics operation. The business and assets of Freight Movement Limited, headquartered in Newport, South Wales, have been purchased out of administration by Monex Distribution Ltd, thereby saving 61 positions at the logistics company.
The director of Freight Movement, which was established in 1998, appointed Huw Powell and Katrina Orum from BTG Begbies Traynor as Joint Administrators on 6 March 2026, following revenue losses due to a depot closure, escalating costs, bad debt and other factors leading to the company’s insolvency.
However, merely days later, Monex Distribution Ltd, part of the family-owned haulage network Monex Group, acquired the business and its assets, including an option on Freight Movement’s 50,000sq ft depot, through a pre-pack administration process.
A statement indicated the outcome provides the best return for creditors and ensures no disruption to deliveries and services for customers. At its zenith, Freight Movement operated an extensive fleet of vehicles within the contract logistics, pallet network and general haulage sectors, handling everything from small consignments to full loads.
It also offered ad-hoc shipments and next day services.
Catering to blue chip clients and small businesses alike, it provided services across the UK, with its partners extending deliveries to Europe and further afield. It managed a broad spectrum 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, reports the Express.
James Howells, Group CEO at Monex Group Limited, expressed: “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, stated: “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.”
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