Global supply chain group falls into administration

THE Charles Gee Group, which provides global supply chain solutions, has gone into administration.

Geoff Rowley, Phil Armstrong and Andrew Sheridan, partners of FRP Advisory, the specialist restructuring and recovery firm, were appointed joint administrators to The Charles Gee Group and several of its key trading subsidiaries today.

The group’s operational sites are located at a number of locations including Hull, East Yorkshire. The group employs approximately 250 staff and within the UK, trades as a road haulage, air freight, shipping and general logistics and distribution business.

 

Charles Gee Subsidiaries provides services for large UK and other European industrial manufacturers and support services firms. Services include the transportation of wings for Airbus from its UK manufacturing plants to other European sites for assembly, the transport of large paper reels used at the printing works for many of the UK’s national and regional news groups.

 

The company recently established that it was suffering from acute cash flow pressures resulting in the company’s directors’ appointment of administrators in order to protect the best interests of its underlying businesses, its customers and suppliers.

 

The joint administrators at FRP Advisory are now actively engaged with customers and suppliers to assess the viability of the company and several of the Charles Gee subsidiaries, while working alongside them to try to ensure a continuation of trading activities while buyers are sought. FRP said it is possible that during the administration process there will be redundancies within the group and the joint administrators may make further announcements in due course.

 

Geoff Rowley, senior partner at FRP Advisory and joint administrator, 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.”