Ian Gillespie, who founded the Northumberland-based Fone Logistics distribution business in 1996, has restructured the company. He says the move was essential to provide long-term security for the business and its 75 employees.
This news comes three years after Ian Gillespie sold part of the business in 2006.
“The plan three years ago was for me to take more of a back seat in the day-to-day running of the business”, said Mr Gillespie, “but since then, with my reacquisition of the share capital and the economic climate the way it is, things have changed. So, for the future well-being of the company and its employees we have performed this transaction to improve our position and create greater stability. Our Network partners, suppliers, customers and employees have been extremely supportive over the restructure and I would like thank them for all their help.”
The deal involves a newly-formed entity acquiring the trading activities of Fone Logistics.