Charles Gee calls for help
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By Hayley Pink
THE CHARLES Gee Group of Companies, parent company to C&H (Hauliers), entered administration on Monday citing acute cashflow problems. FRP Advisory is working with Charles Gee to ensure a continuation of trading activities while buyers are sought. Senior partner Geoff Rowley said: "We are focused on working with the group's customers and suppliers
and in engaging with interested parties. Charles Gee has faced challenging trading conditions for years and, despite support from customers, recent cashflow problems prompted the need to seek administration."
The recovery firm said that there may be redundancies in the group during the process. The group has 14 subsidiaries, of which C&H (Hauliers) is one of the largest. For the year ended 31 March 2012, it posted a pre-tax
profit of £216,000 on a turnover of £21.2m, which contributed about half of the group's overall £45.2m turnover and £424,000 pretax profit.
The haulier specialises in newspaper reel logistics, transporting paper for the majority of newsprint producers. It also recently moved into the paper recycling market.
C&H Hauliers MD Steve Mercer was unavailable for comment as CM went to press.