Sale of furniture transport firm saves 55 jobs

The company was only incorporated in 2023 but it encountered difficulties almost straight away when sofa customer Alexander & James lost a key retail relationship, which had a knock-on effect on Grays with a reduction in revenue of around £150,000 a month.

In a report, administrator CBA said Grays’ directors took steps to mitigate the impact and agreed a contract with upholstery manufacturer Ashley Manor, but when the work commenced the commercial structure differed materially from expectations and led to significantly reduced margins.

Reflecting the challenging market, furniture companies Royams and Bell & Stocherro also entered administration in 2025, contributing to instability with Grays’ customer base.

CBA said: “Despite sustained efforts to trade through the difficulties, including strategic contract review, attempted business sale, funding discussions and operational adjustments, the company was unable to restore long-term financial stability.

“The directors therefore concluded that administration would provide the best opportunity to preserve asset value and achieve a better outcome for creditors than immediate cessation of trade.”

Grays Transport (Derbyshire) entered administration on 13 March and it was then sold to an unconnected party called Grays Transport (Midlands), resulting in the transfer of 55 employees.

CBA said this new company had significant experience within the industry and was able to raise the required funding to allow the purchase to be completed.

Companies House records show that the directors of the Midlands business are Ann and Stuart Dytham, who are also directors of PT Hire and Transafe Logistics.

Both businesses faced financial challenges due to issues with MAN’s Euro 6c engines within their fleets.

CBA added: “Of the sale consideration, £40,000 was paid upon completion and the balance of £60,000 is payable by way of 12 monthly equal instalments of £5,000 per month, commencing 1 April 2026.”