Bicycle cargo delivery company ceases operations

Oxford-based Pedal&Post was among the pioneering companies that carried out urban deliveries using an eco-friendly approach with bicycles. The company, which delivered over 1,000 packages to customers daily via bicycle couriers, announced that it has ceased operations due to difficult economic conditions and the departure of one of its major clients.

While it was noted that the company had been struggling with financial difficulties for some time, the loss of a critical client, which accounted for a quarter of the company's revenue, ignited the crisis. After the micromobility startup Voi changed its current strategies and terminated its business relationship with Pedal&Post, the company's chances of survival diminished significantly. The team of approximately 60 people, which also served important institutions such as the Oxford University Hospitals NHS Foundation Trust, has been laid off.

According to the statements, the management of Pedal&Post decided to close both its London and Oxford offices. The final briefing sent to investors included the following statements: “Despite exploring every possible avenue to continue and exhausting all options, we have reached a point where we can no longer sustain the business. Although this chapter is closing, we believe that the end of cargo bike logistics has not arrived.”

The company reported that its search for financial support also proved fruitless and that a return on investments made to shareholders does not appear possible at this stage. Industry representatives, however, believe that bicycle logistics will receive more attention in the long term for the sake of sustainable transportation.

News Source: 12punto