Published: April 2, 2026 at 4:12 pm
Manchester-headquartered delivery tech firm Sorted Group Holdings is set to be sold for £1, subject to shareholder approval.
The news comes just two years after Location Sciences completed its reverse takeover of the delivery tech platform Sorted in a £66.73m reverse takeover deal.
Since the acquisition, the board has undertaken a significant restructure, including reducing staff numbers from 90 to 37, closing its London office, and selling its Clicksit App for £775,000.
In a statement to the LSE this morning, the company said: “Notwithstanding the above progress, as a Software as a Service business that remains in its growth phase of development, it remains apparent to the board that the business continues to require significant cash consumption in order to scale and reach profitability in the medium term.
“The board believes that committing further significant investment towards enhancing elements of the business is not in the best interests of shareholders.”
The disposal will take place in the form of the sale by SHL to the buyer of the entire issued share capital of SGL for a nominal cash consideration of £1 and become an AIM ‘cash shell’.