Charles Gee Group in administration and for sale

Haulier Charles Gee Group has been placed into administration with the appointment of FRP Advisory to seek a sale of the business.

Geoff Rowley, Phil Armstrong and Andrew Sheridan of FRP Advisory have been brought in to find a buyer and save the jobs of the 250-strong workforce.

Charles Gee had been pushing its way through difficult trading conditions over the past few years, but recent cash flow issues had lead to the need to enter administration, as a protective measure.

Named after its founder Charles Edward Gee, the business started out as a shipbroker in London in 1887, and today operates road haulage, airfreight, shipping and distribution. It also transports large parts and wings for Airbus aircraft from UK manufacturing plants for assembly at other plants in Europe.

In 2011 it moved a 16-metre Airbus wing from Filton in Bristol to southern France, and had to chop down trees and remove road signs to fulfil the task.

The haulier has offices in Clevedon, Birkenhead and Bridgewater, near to the planned Hinckley C nuclear power station in Somerset. It was unsuccessful in its bid to land work on the new Hinckley nuclear plant, which only got the go-ahead yesterday after delays due to disagreements regarding taxpayer subsidies.

The administrators are in discussion with customers and suppliers to assess the situation and maintain operations in the meantime, while a buyer is sought. They have warned that job losses are possible.

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Related information:
Contact the administrators here
Tips on acquisition strategies
Businesses in administration

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