Sorted Group exits returns business

Sorted Group Holdings PLC has sold both the business and the intellectual property used to operate and deliver its Returns business to ZigZag Global Ltd for a total consideration of £775,000 in cash. The Returns business generated a pre-tax profit of c.£64k for the 15 months ended 31 December 2023. Clients were mostly fashion retailers together with charities and educational institutions.

Sorted Group intends to use the cash to settle the Clicksit APP Ltd liabilities of c.£1.4m, including accumulated losses and transaction costs. It will now focus on its Ship carrier management system and Track, a post-purchase experience product.