UK based KNP Logistics Business Shuts Down: 700 Jobs lost
KNP Logistics Group will be forced to make over 700 employees redundant. According to the administrators, a “major ransomware attack … affected key systems, processes and financial information. This adversely impacted on the financial position of the Group and ultimately, its ability to secure additional investment and funding.” The incident is a rare public example of the existential threat that experts warn ransomware can pose to businesses.
Only the group’s Nelson Distribution business will survive after being sold, saving 170 jobs. KNP was formed out of a 2016 merger between Nelson Distribution and Knights of Old, a haulage business that dated back to 1865. The group was originally compromised in June 2023 by the Akira ransomware collective. However, it’s unclear whether it was able to access a decryptor for the ransomware released by Avast in July.