A British courier service has shut down after more than a decade in operation, bringing an abrupt end to its activities.
The move has resulted in dozens of job losses, after the company was hit by the loss of a key contract.
Pedal & Post, an environmentally focused courier firm operating across Oxford and London, has entered voluntary liquidation following 14 years in business, leaving 60 employees without work.
The collapse was triggered when micromobility operator Voi issued notice to terminate its contract with the delivery company at the end of January.
Founder and chief executive Chris Benton described the development as “major, unexpected and extremely difficult” in communications to staff and investors.
Voi’s departure stripped away a quarter of the company’s total revenue, with Benton explaining the contract loss “fundamentally changes the business outlook.”
The termination was not linked to performance issues, with Voi stating it was “going in a different direction operationally.”
The business was established in 2013 by Benton, who built it around the concept of using cargo bikes rather than traditional vans for urban deliveries.
At its peak, the company was handling more than 1,000 parcels daily across its operations
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PexelsAt its peak, the company was handling more than 1,000 parcels daily across its operations.
Among its client base was Oxford University Hospitals NHS Trust, demonstrating the firm had secured contracts with major public sector organisations.
Mr Benton had previously calculated that a widespread shift from diesel vans to cargo bikes for first and last-mile deliveries could generate savings exceeding £4billion for the NHS and other government services.
The company operated from premises on Osney Mead industrial estate in Oxford.
The company operated from premises on Osney Mead industrial estate in Oxford
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GETTY
Shareholders have been informed they are unlikely to recover their investments through the liquidation process.
This includes £500,000 raised via a crowdfunding campaign in 2023, as well as Mr Benton’s own recent contribution of £30,000.
Richard Lofthouse, a significant investor who has backed the company since its founding, expressed disbelief at the announcement.
“I’m shocked by the announcement,” Mr Lofthouse said. “The business was created to reduce van movements in the city and had successfully delivered many thousands of parcels.”
He added: “I anticipate that many shareholders will wonder why the company has thrown in the towel after surviving for the past 14 years, including through Covid.”
A delivery firm based in Oxford has closed down after 14 years
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GETTY IMAGESMr Benton acknowledged the difficulty of the situation for investors, stating: “I fully recognise how hard this will be to hear and I am deeply sorry to be sharing this update in these circumstances.”
The company said it had “explored every possible avenue to continue” before reaching the decision that the business could no longer be sustained.
Despite the closure, Mr Benton expressed confidence that cargo bike logistics would endure, noting that major carriers are now investing in low-carbon, bike-based urban delivery models.
The Coalition for Healthy Streets and Active Travel paid tribute to the firm, describing it as “a bright feature of the Oxford streetscape for more than a decade.”