Administrators sell C&H (Hauliers) to former rivals C M Downtown for undisclosed sum, but parent company Charles Gee remains in administration
FRP ADVISORY administrators have sold a supplier to the UK’s leading national and regional newspapers to a rival.
C&H (Hauliers) Ltd, a national haulage and distribution business of paper reels, entered has been sold to former rivals C M Downton for an undisclosed sum.
Geoff Rowley, Phil Armstrong (pictured) and Andrew Sheridan were appointed joint administrators of The Charles Gee group of companies and several of its trading subsidiaries including C&H on 21 October.
The sale secures all 180 jobs at C&H, which will continue to trade as normal. It was founded in the east end of London in 1960 and transports more than 2.2m tonnes of Forest Products annually. The sale will see new owners C M Downton take-over assets including 130 tractor units and 250 trailers.
Initially when Charles Gee entered administration it had about 250 employees. It now has about 70 staff following the sale, with the administrators admitting that “there will be redundancies within the group” due to difficult trading conditions.
Armstrong, partner at FRP Advisory said: “We are delighted to have found a new home in CM Downton for the business of C&H, its staff and its array of loyal customers. For more than 50 years C&H has transported core parts to Britain’s manufacturing base and its services have been integral to their success.”