Written ByRobert Moore
Marketing Manager
Rob has over a decade of experience in web and general marketing. He has extensive knowledge of the Insolvency sector and has helped many worried directors with their questions.
Rob is now working with the Board at KSA Group Ltd to develop strategic marketing programmes to support the business plan and drive more company rescues.
Zedify, the UK’s largest electric freight bike delivery network, has gone into administration, resulting in the loss of over 100 jobs.
Zedify, founded in 2015, provides zero-emission last-mile logistics services to businesses such as high-street stores, package carriers, and independent businesses.
The investment came after Zedify received a £5 million funding round in March 2023 from the same investors, including Barclays Sustainable Impact Capital and Mercia, which enabled the company to grow from 113 to 209 people and sign sponsors such as Hello Fresh, Selfridges and Veja.
However, despite increased demand for sustainable delivery services, the company was unable to secure enough finance to continue operations. As a result, on January 31, it appointed Interpath’s Will Wright and Steve Absolom as Joint Administrators of Outspoken Logistics Limited, also known as Zedify.
The company’s hubs in Cambridge and Edinburgh remain operational, with 38 staff retained while the Joint Administrators look into future options for these locations. Furthermore, the Bristol hub is run by a separate legal corporation and continues to operate.
However, the Joint Administrators have begun an orderly wind-down of the remaining business and have closed seven of the company’s trading centres. As a result, 105 individuals have lost their jobs.
Ravi Patel of Interpath, who is handling the sale of the company’s business and assets, stated: “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, Interpath’s Managing Director and Joint Administrator, stated: “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.”
What Does Going Into Administration Mean?
What Does Going Into Administration Mean?
Will I get my goods as the company has gone into administration
Will I get my goods as the company has gone into administration
Making Employees Redundant
Making Employees Redundant