Ripley-based family firm Grays Transport (Derbyshire), which specialises in furniture delivery, has filed a notice of intention to appoint administrators, following the loss of major contracts due to key customers falling into administration.
The company told MT this week that the move will allow the company to complete a planned restructuring, protect jobs and the long-term future of the business, while maintaining its service to its manufacturing and retail partners.
The notice of intention (NOI), lodged with law firm Freeths, gives the company an immediate 10-day legal breathing space, protecting it from creditor legal action, such as winding-up petitions, and giving its directors a range of options, such as structuring a rescue, arranging a pre-pack sale, or managing the insolvency.
Grays Transport, which was founded over 25 years ago, has a licence to operate a fleet of 20 trucks and 40 trailers and runs a 101,000sq ft warehouse.
The company, which is led by the Evans family, specialises in transporting furniture from manufacturers to retailers across the UK and also provides home delivery and stock storage services.
Earlier this year Grays Transport (Derbyshire) was shortlisted in the Superior Service category of the Excellence in Furniture Awards.
In the past five years Grays Transport saw rapid growth, with staff numbers going up from 25 employees pre-Covid to around 80. This growth prompted the company to secure a new invoice factoring facility with lender Evolve Business Finance, so it could expand its operations.
In its most recent annual results for the year to 31 March 2025, the company revealed that it owed creditors £2.5m (2024: £2.3m), due within one year, whilst total assets amounted to £906,286 (2024: £857,828).
MD Jennifer Evans confirmed the company had filed an NOI, to allow it to complete a planned restructuring of the company.
She added: “Over the past two years the business has faced a series of significant commercial challenges, many of which were outside of our control and reflective of wider pressures across the UK furniture sector.
“These included the sudden loss of major contracts, the impact of key customers entering administration, and the broader slowdown affecting the sector. Together, these events created a particularly difficult trading environment for the business.”
Evans said the company is trading as normal and moved to reassure customers and partners that the aim of the NOI is to protect the long-term future of the business, with no disruption to service.
She continued: “At this stage there are certain regulatory steps still being completed and it would therefore be inappropriate to comment further on the detail of the proposed structure until those processes are finalised.
“The NOI has been filed to allow time for the final stages of a process designed to secure the long-term future of the business, protect our customers, and safeguard as many jobs as possible.
“While those steps are ongoing, we remain optimistic about the path ahead and encouraged by the support the business continues to receive from those who understand the value of Grays Transport, the experience of our team and the role we play within the furniture logistics sector.
“Our intention is for Grays Transport and the services we provide to continue strongly into the future. What I can say is that both myself, Chris Evans and the wider team remain fully committed to the future of the business and to the customers and suppliers who have supported Grays Transport over many years.”
Evans added that the company would provide further updates once the formal processes currently underway have been concluded.
