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Pickfords and privatisation
The removals market was shaped by the nationalisation and subsequent privatisation of freight. Pickfords, which started in 1630, was the subject of CM'sfirst ever operator profile in 1905. In 1947 it was nationalised as part of British Roads Services; in 1969 it became part of the National Freight Company owned by the Treasury.
National Freight was one of Margaret Thatcher's first targets for privatisation. According to the Adam Smith Institute, 45% of National Freight's 23,500 employees took part in the buyout which raised £7.5m and gave them control of the corporation, which in 1981 showed a profit of just £1 m.
By 1986 that had soared to £37m and not untypically for the undervalued Thatcherite sell-offs, many of the initial investors became rich.
As part of this, Pickfords was in an exceptionally strong position a position some credit to being undervalued when privatised, given that the deal included a large amount of real estate. Gradually, other large removals firms offering a national service were bought up by the company including the removals arm of John Lewis Group, Holts and A&N. Harrods, unhappy to relinquish its brand, chose to withdraw from the removals market.
Pickfords now has 57 branches including two franchises. The rest of the market is dominated by either big regional companies, often sustained by industrial or military contracts, and smaller regionals, including many family firms.