A specialist group of supply chain and logistics companies has entered administration as a result of “acute cash flow pressures”.
Geoff Rowley, Phil Armstrong and Andrew Sheridan, partners at FRP Advisory, were appointed as joint administrators to The Charles Gee Group, and several key trading subsidiaries, on 21 October.
Geoff Rowley, senior partner at FRP Advisory, said: “We are highly focused on working with the Group’s customers and suppliers and engaging with interested parties.
“In line with economic issues facing many businesses, Charles Gee has faced challenging 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 group, which provides global supply chain solutions and operates within the UK as a road haulage, air freight, shipping and general logistics and distribution business, currently employs approximately 250 staff.
Following a period of cash flow pressures, the company filed for administration to “protect the best interests of its underlying businesses, its customers and suppliers”.
The administrators said “it is possible that during the administration process there will be redundancies within the Group”, although details have yet been confirmed.
The group’s operational sites are located at key UK regional locations including: Tilbury in Essex, Felixstowe in Suffolk, Kings Lynn in Norfolk, Birkenhead in Merseyside, Didcot in Oxfordshire, Chatham in Kent, Aylesford in Kent, Harmondsworth near Heathrow in Middlesex, a London City office, Kingston-Upon-Hull in Yorkshire, Clevedon near Bristol and Bridgewater in Somerset.