A Kettering logistics group has entered administration amidst challenging market conditions, with around 730 employees to be made redundant.
KNP Logistics Group was subject to a cyber attack earlier this year, which joint administrators Rajnesh Mittal and Philip Armstrong of FRP Advisory said had harmed the group’s financial position and ability to secure further funding and investment.
The news comes as one of the group’s firms, Nelson Distribution, has been sold. Kinaxia Logistics acquired the trade and assets of Derbyshire-based Nelson Distribution, securing the jobs of 170 staff.
KNP was formed when Knights of Old merged with Nelson Distribution in 2016 and includes Steve Porter Transport.
