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Palmer & Harvey enters administration

RBR Staff Writer Published 29 November 2017

Palmer & Harvey (P&H) has gone into administration, which has put thousands of jobs at risk, this Christmas.

The talks of P&H’s takeover by private equity firm Carlyle have failed, resulting in the collapse of the company, risking over 4,000 jobs.

In the recent times, the company has been facing challenging trading conditions and attempts to restructure the business did not work.

The company serves more than 90,000 outlets ranging from small local stores to some of the largest retail chain stores in the UK.

It supplies a range of products to retailers including alcohol, packaged food items, frozen or chilled foods, confectionary, cigarettes and non-food items such as detergents, personal care products and much more. The stores are reportedly working on keeping their stocks full for this Christmas.

PwC partner and joint administrator Matthew Callaghan said: "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."

He continued saying: "Our priority is to ensure that all employees made redundant are assisted in processing their claims with immediate effect. We will be circulating correspondence to all staff as soon as possible which will outline the support available to complete redundancy payment forms.”

The company has about 3,400 employees out of which, presently 2,500 are expected to lose their jobs. 450 employees have been retained and these people will help the joint administrators in managing business until it is closed. The company was able to pay for the month of November.

Image: Palmer & Harvey enters into administration. Photo: Courtesy of Palmer and Harvey.