Jobs saved at distribution firm

About 1,300 jobs have been saved at a chilled goods distribution company based in Nottinghamshire.

Innovate Logistics, in Sherwood Park Industrial Estate, Annesley, was bought out by the Stobart Group overnight after going into administration.

The haulage firm said it planned to increase the company's fleet size to more than 1,800 trucks.

Stobart's chief executive Andrew Tinkler said he was glad the move had safeguarded people's jobs.

Undisclosed sum

He said: "We are committed to safeguarding the jobs of 1,300 people who may otherwise have been unemployed and we look forward to welcoming them to the group."

He added that buying out Innovate Logistics was a "low risk" way of expanding Stobart's presence in the chilled market.

The Cumbrian-based firm took on Innovate Logistics' chilled goods operation from BDO Stoy Haywood for an undisclosed sum.

It means Stobart's workforce will grow to more than 5,300 people, with the fleet growing to more than 1,800 trucks and 3,200 trailers.

Stobart - formed by a merger between ports group Westbury and Eddie Stobart last year - said it expected the operation to generate around £100m a year in turnover.

Innovate, which was owned by Icelandic shipping company Eimskip, went into administration on Monday afternoon.

Its assets had been put up for sale in mid-June by its former parent group.