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TAG Transport is bought out of administration

  • 31 January 2013
  • By Ashleigh Wight

Croydon-based TAG Transport has been rescued from administration, in a development that safeguards 26 jobs.

Newly incorporated company Diamond Distribution has bought the former Palletways member after it appointed administrators on 11 January.

Administrator Simon Plant of SFP Group said: “I am delighted to advise that a sale of TAG’s business and assets has taken place to Diamond Distribution, saving all jobs in the process and ensuring continuity of service.”

TAG Transport, which ran 18 vehicles out of a depot in Croydon, Surrey, was trading through the administration process before Diamond Distribution purchased the company on 18 January.

Diamond Distribution and Tag Transport have directors

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Geoffrey Phipps and Keely Priestman in common.

TAG took on the CR and SM postcodes for Palletways in November 2011, after it came out of the Palletforce network in November 2011.

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Article source: http://www.commercialmotor.com:80/latest-news/tag-transport-is-bought-out-of-administration