London — British logistics giant Vanguard Group has closed its doors, saying it is not able to meet the demand for its services.
The company said Thursday that it will be closing its operations in England and Wales.
Vanguard Group is a logistics and logistics-focused company that helps businesses and governments to deliver goods and services to their customers.
It is headquartered in the U.K. and has operations in more than 120 countries.
It said the closure was “a result of our inability to meet our customers’ increased demand for their services.”
The company did not provide a reason for the closure.
The business of supplying goods and logistics is a lucrative one for Vanguard, with the average value of its business in the first quarter of 2018 growing at an annual rate of 5 percent, the company said.
In Britain, the market for logistics is dominated by British businesses and businesses that rely on the country for its exports.
In 2018, Vanguard was the third largest logistics provider in the country, with its total revenues growing at 5.9 percent, according to the company’s annual report.