The Charles Gee Group of Companies, parent company to  C & H (Hauliers), entered administration today (21 October) following “acute cashflow problems”.

The group’s 14 subsidiaries - including C&H (Hauliers) - provided, among other contracts, the transportation of wings for Airbus and the distribution of giant paper reels used at printing works for national news groups.

C&H (Hauliers) is one of the largest subsidiaries in the group, for the year ended 31 March 2012 achieving a pre-tax profit of £216,000 on a turnover of £21.2m, which contributed around half of the Charles Gee Group’s overall £45.2m turnover and £424,000 pre-tax profit.

The haulier is a niche player in newspaper reel logistics, transporting paper for the majority of newsprint producers on its fleet of specialist trailers. It has also recently moved into the paper recycling market.

FRP advisory is now working with the Charles Gee Group of Companies to ensure a continuation of trading activities while buyers are sought.

Geoff Rowley, senior partner at FRP Advisory, said: “We are highly focused on working with the Group’s customers and suppliers and in engaging with interested parties.

"In line with economic issues facing many businesses, Charles Gee has faced challenging trading conditions for a number of years and despite the support of its loyal customer base, recent cash flow problems have prompted the need to seek the protection of administration.”

The recovery firm added that there may be redundancies within the group during the administration process.

MT was unable to speak to C&H Hauliers managing director Steve Mercer.

Topics