UK-based Hemisphere Freight Services is set to purchase the warehousing and freight forwarding divisions of Magnus Group, as well as all associated operational staff.
Magnus Group, based in Suffolk, filed a notice of intention to appoint administrators in early November. The agreement with Hemisphere aims to minimise business disruption to Magnus’ clients, as well as provide continuous employment to its warehousing and forwarding team members. As part of the arrangement, Hemisphere will also take over around 200,000 sq ft (18,580.6 sq m) of warehousing space at the company’s Great Blakenham facility.
Andy Perrin, Hemisphere’s managing director, said: “It’s always hard to see a fellow family-run business go into administration, especially after decades of successful trading and becoming so well-respected within the local community… This is a sad reflection of the current state of the industry and economic conditions, and our offer to acquire the warehousing and forwarding elements of the business was, above all else, an attempt to safeguard the employment and ensure the wellbeing of as many of Magnus Group’s team members as possible.”
The purchase of the divisions comes at a time that Hemisphere is preparing to open a multi-million-pound warehouse on the Suffolk Port One Logistics Park, scheduled for completion in the first quarter of 2024. Hemisphere’s team will utilise warehousing space in Great Blakenham for six months in the build-up to the new Port One site, before transitioning the business to the site upon completion.
Hemisphere Freight Services is a member of the Project Cargo Network (PCN).
