yboo creditors left £300,000 out of pocket as Dixons Carphone acquires comparison firm’s assets
Acquisition fee not enough to reimburse creditors
Jasper Hart
September 24, 2020
Dunn spent 17 years at Redeem, joining the company in 2003
Logistics company CTDI has hired ex-Redeem MD Simon Dunn as director of business development to increase partner portfolio and brand awareness.
CTDI has more than 100 locations in 23 countries. It was set up 45 years ago in a Philadelphia garage and now has a turnover of around $1.6 billion. In the UK, it employs around 800 people across sites in Glenrothes, Milton Keynes and Huntingdon.
CTDI’s customers include wireline and wireless telecom carriers, cable service providers, and major OEMs.
The Mobile and Consumer Electronics division has Apple, Samsung and Amazon partnerships, and handles test, repair and refurbishment of devices, as well as network infrastructure equipment.
“They’ve asked me to build a brand and take us into new partnerships around logistics, repair and mobile consumer electronics. They are also very active in areas such as smart home,” Dunn said.
He became available after Redeem liquidated when COVID struck. Redeem had been restructured in 2017, transforming a £4 million loss into a £2 million profit. But revenue dried up at a network level due to COVID and the investors lost their appetite to continue.
TES, which owns refurbishment and redistribution firm Tech SI, bought Redeem Group’s assets and the Envirofone brand for an undisclosed amount.