Global Pallet Systems (GPS) may be placed into liquidation on May 22 after going into a downward spiral since the Fradley Park, Lichfield network began trading on March 19. Senior consultancy manager Richard Owen, of Walsall-based accountants Griffin and King, says a creditors meeting will be held on May 22.
"I can't confirm how many creditors there are or how much money they are owed at this point," he says. "We haven't got that information from the company yet. We are sending notices out to creditors at the moment." He adds that GPS contacted him on April 26 to "take instructions to place the company in liquidation".
Graham Thomas, managing director of GPS told Motor Transport last week that the company had suspended operations for four weeks to "regroup and re-establish the network". A GPS member emailed MT this week to say: " I am an independent owner driver with just a Sprinter van. GPS dragged me in and wanted 3,4,5 vans per shift for three weeks. They haven't suspended operations. I'm owed £12,000 and will probably go bankrupt." Thomas did not answer MT's calls.
GPS has gone through a difficult period after founder and ex-CEO Mike Chamberlain stepped down from the network due to ill health on April 9. Chamberlain's son Stephen has also left the business. When GPS launched there were fears from many in the industry that there was no room for an additional network and its launch would harm the sector.
