Palmer and Harvey placed in administration

Palmer and Harvey has gone into administration with 2,500 immediate job losses after failing to secure additional funding to support the business, according to PwC.

The remaining 900 employees will assist the administrators in managing the activities of the business to an orderly closure.

The administrators are continuing to explore options for a sale of P&H Direct Van Sales, Sweetdirect and Snacksdirect.

Matthew Callaghan, joint administrator and PwC partner, said: “The P&H Group has faced a challenging trading environment, and the need for significant restructuring has been recognised for some while. The company has insufficient cash resources to continue to trade beyond the short term and the directors have concluded that there is no longer any reasonable prospect of a sale. Therefore, the directors have had no choice but appoint administrators.”

A JTI spokesperson said: “JTI has worked continuously to facilitate a constructive solution to the P&H Group’s challenges including extending significant financial and operational support to allow P&H to continue its operations. Regrettably our considerable efforts were not successful. We have a contingency plan in place and we do not expect any significant interruption in the supply of our products.”

The Hove-based wholesaler, with an annual turnover of more than £4 billion, operates 14 regional depots, utilising more than 1,000 vehicles to deliver ambient, chilled and frozen products to around 90,000 customers in every postcode in the UK.

Tel: Palmer and Harvey (01273) 222100

Published Date: November 29, 2017
Category: Wholesale Industry News