Skills for Logistics to end operationsSkills for Logistics, the sector skills council for the freight logistics industry in the UK, will close its business and is considering about placing the company into administration to facilitate the closure.
This has happened due to pressure placed on the business by the trustees of the pension scheme, which SfL joined following its initial set-up in 2003.
Like many similar organisations, the significant pension deficit and subsequent on-going recovery payments has placed extreme pressure on a smaller SfL business in a rapidly changing economic environment.
Skills for Logistics has worked hard to exist and be effective over the last 2-3 years in the 'new world' of substantially reduced public funding for skills initiatives, and now being required to become 100% funded through employer projects, has struggled to both replace revenue streams and continue to fund pension recovery payments.
The organisation and its business plan have remained reasonably strong, however given the reduced activity level in 2015 and obligations to the pension scheme (particularly in the light a new approach by its trustees), the board felt it would be better to seek alternative options for the continuing industry skills projects.
The board is therefore appointing an administrator and starting to work with our stakeholders to find a natural home for any on-going projects.
You'd better make use of their help before they're gone then won't you!