Ryder System, the parent company of Ryder UK, is proposing to exit operations in the UK.
Ryder was established in 1971 and has grown through acquisition and organic development into a sizeable force in transportation with a fleet consisting of trucks, trailers, and vans.
The European business is a leading provider of commercial vehicle solutions that include contract hire and rental, mobile maintenance, dedicated delivery solutions, and approved used vehicle sales.
The firm said that its proposal to exit the UK market was “strategic” and in no way a reflection of the efforts of the “great employees” Ryder has in the UK.
It has entered into a period of consultation with its employees, customers and suppliers. The outcome of this proposal is expected to be announced in mid-April 2022.
Subject to the outcome of the consultation, Ryder is planning for an orderly withdrawal from the UK market over the next 12-18 months.
The company says it will work with its suppliers and customers to help them understand the implications for their commercial vehicle fleets.
The company will also be reviewing the potential for the divestment of its business operations with potential associated opportunities for employees.
The company said it was unable to comment further at this point.
Last November, Ryder announced it had enhanced its used commercial vehicle offering to provide customers with added benefits and a new buying experience.
The independent provider of commercial vehicle rental, contract hire, and maintenance services across the UK, had also reengineered the Ryder Used Approved website.