Pickfords on the move as Team deal secures its future

Apr 2 2008 by Bill Gleeson, Liverpool Daily Post

PICKFORDS, the UK’s oldest removals firm, was yesterday saved from going into administration after being bought by The Team Group.

US removals giant Sirva has sold its UK and Ireland moving services operations – including Pickfords – to Team for an undisclosed sum.

It is unclear what will happen to the 1,100 staff employed by Pickfords, with Team saying it was “too early” to comment on prospects for the workforce following the deal. Sirva indicated last month that it was looking to sell all or part of the loss-making business to help raise money to pay staff and creditors.

Pickfords, which was founded in 1646, is forecast to lose around £1.5m this year, and relied on a £350,000 cash injection last month to pay staff, Sirva Inc said last month.

But Team yesterday pledged to retain the Pickfords brand and continue building the business.

Yogesh Mehta, Team Group managing director, said: “We will naturally continue to operate Pickfords under that famous brand and feel sure our expertise within this core market will ensure renewed success for this fine company.” Pickfords, based in Enfield, Middlesex, employs around 1,100 people across the UK and Ireland.

The business was registered in the UK as Sirva UK Ltd and has been struggling.

Sirva Inc itself filed for Chapter 11 bankruptcy protection in the US in February after suffering during the US property crisis.

Pickfords first began using steam traction engines to haul goods in 1840.