Pickfords moves into operation

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Pickfords, the 400-year-old removal company, has been bought out of administration in a pre-pack deal.

The business has been acquired by a new company called Pickfords Move Management in a deal that preserves 900 jobs.

The company, which traces its roots back to the 17th century when the Pickfords of Adlington, Lancashire, entered the wagon trade, will continue to trade under the famous name.

Before the pre-pack deal, the London-based business was previously owned by Team Group, a private company with common directors from the buy-out shell.

The company had suffered from a weak housing market in recent years with the number of moves taking place well below historic averages.