A Business Destroyed: The Knights of Old Cyber Attack Story
In 2023, Knights of Old — a respected logistics company based in Northamptonshire — was brought to its knees by a devastating cyber attack. Despite a significant investment in IT and cyber security, the company was ultimately unable to recover, leading to its closure.
We sat down with former director Paul Abbott to hear the full story. What followed was an eye-opening conversation every business leader should hear.
“Each of us lost £5 million overnight.”
In the below clip, Paul shares the staggering financial toll the attack had on shareholders. At its peak, Knights of Old was valued at around £15 million, and plans were quietly forming for a potential sale. But the cyber breach not only disrupted operations — it erased the company’s financial credibility and wiped out the opportunity entirely.
“We spent over £100,000 a year on IT — and still got hacked.”
Paul explains that the business wasn't negligent when it came to cyber investment. In fact, they were spending more than £100k annually across their MSP, insurance, and internal teams. But as he reflects, it wasn’t just about how much they spent — it was where that money was going, and who was guiding those decisions.
The Real Lesson: It's Not Just About Technology
This story isn’t just about a cyber attack — it’s about misplaced trust, misunderstood risk, and the critical importance of having the right partner. Knights of Old had systems, insurance, backups, and protocols in place. But they lacked strategic oversight, continuous improvement, and proactive guidance from their MSP.
At EBC Group, we believe cybersecurity isn’t a one-time project or a tick-box exercise. It’s a living, evolving discipline that requires the right people, the right priorities, and a true partnership built around your best interests.
