C&H (Hauliers) parent The Charles Gee Group of Companies has entered administration citing “acute cashflow problems”. FRP Advisory is now working with Charles Gee to ensure trading continues while buyers are sought.
The group has 14 subsidiaries, with C&H (Hauliers) one of the largest subsidiaries in the group by turnover.
Earlier this month C&H (Hauliers) had relocated its main operations centre to Chatham, Kent, from Tilbury, Essex.
Geoff Rowley, senior partner at FRP Advisory, said: “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,” he added.
FRP added that there may be redundancies within the group during the administration process.
C&H (Hauliers) MD Steve Mercer was unavailable for comment.
In March C&H (Hauliers) took delivery of 40 new Mercedes-Benz Actros units and 34 high-volume SDC curtainside trailers following a six-month trial.
I’ve been trying to do a few back loads for them there recently, glad I never got anywhere with them now. They’re always running round in new kit, Actros’, Dafs & new walking floors, all mega money which has to come from somewhere, or not as the case may be.
I’m surprised they need any motor’s at all with the amount of work they sub out. they’d be better off just being a sud house and take their 10% of every load.
SHYTOT:
How do you know they were making money do you work in their accounts department??
It’s c&h that’s been keeping them afloat for a while it’s the shipping side that’s gone into decline over the last few years it’s a shame as a good firm
kr79:
Didnt they used to do a lot of news print work?
they run the distribution for Aylesford newsprint also Nordic at Chatham and they did work out of tilbury but it looks like they closed the offices over there, I think also they moved reels out of palm paper at kings lyne as well
Hi all.I work for c&h.The office in tilbury is still there.Along with 10 trucks.Still in palm paper also.No one saw this one coming. Just had all the offices and yard at Chatham done up.And we seem to be as busy as always.Hopefully it can be sorted out.
Bugger. I was in there only last week. Good place for a decent length night shift.
If C&H don’t get bought as a ‘going concern’, I’m going to end up doing more Tescos to take up the slack. Not good.
God knows how they are going to move anything into Chatham though. There’s no room there as it is, the office merely some ramshackle out building out on a quayside limb…
Firstly I’d say its sad to see any firm go under
But as always there a reason for it and I’d predominitly say its overheads n running costs and decline in work I wouldn’t like to speculate what a fully freighted ship does to the gallon but as we all on no the price of fuel as doubled in the last ten years so in theory the shipping rates and haulage rates shud off to but in reality we all no they havnt wich then affects that thing every ones in buisseness for profit
SHYTOT:
How do you know they were making money do you work in their accounts department??
C&H made a pre tax profit of £216,000 last year ! I think most haulage firms would be very chuffed with that
But on what turnover? If they are running ten contracts of which nine are non profitable and they loose the one profitable contract, then all of a sudden they are up the creek without a paddle.
lightning:
Well I have to say - Im shocked at this tale.
Just had a quick look at their accounts…seems there are around 15 or so companies of which a fair proportion have a negative net worth. It just goes to show how easily we can be fooled by seeing nice new shiny trucks.
Lusk:
Just had a quick look at their accounts…seems there are around 15 or so companies of which a fair proportion have a negative net worth. It just goes to show how easily we can be fooled by seeing nice new shiny trucks.
The shiney trucks have naff all to do with it. each subsidiary is run separate to the others C&H are profitable. but as an asset of Charles gee they are something of value to be sold. tbh my money is on a management buyout by the directors of C&H
