Jobs cut at wholesaler Palmer & Harvey 🇬🇧 UK’s 5th largest privately owned wholesaler business leaves 2,500 employers out of work
#BUSINESS NEWSNOVEMBER 28, 2017 / 6:04 PM / 2 DAYS AGO
Jobs cut as UK wholesaler Palmer & Harvey
4 MIN READ
LONDON (Reuters) – British retail supplier Palmer & Harvey McLane Ltd has been placed in administration after running out of cash, with the immediate loss of some 2,500 jobs, accounting firm PwC said.
The group, which delivers cigarettes, food and drinks to retail chains and convenience stores, has been hit by challenging trading conditions in recent months and efforts to restructure it have been unsuccessful, PwC said on Tuesday.
“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,” said Matthew Callaghan, an administrator at PwC, which has been appointed to oversee the process.
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