Celsius First (In administration)

Note: This company is no longer trading as a separate enterprise.

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Following their appointment as joint administrators to Celsius First Limited, Stephen Oldfield and David Chubb from PricewaterhouseCoopers LLP announced that they have successfully completed a sale of a significant proportion of the business and assets to Yearsley Group.

Stephen Oldfield and David Chubb from Pricewaterhouse Coopers LLP were appointed joint administrators to Celsius First Limited on 2 March 2006.

By April 2006 Innovate Logistics Limited announced that a division of the company had purchased from the administrators of Celsius First (PricewaterhouseCoopers) the business of Celsius First that relates to the Portbury (Bristol) site. The current workforce was to be retained and Innovate was looking forward to developing a continuing relationship with the site's existing customers as well as extending the site's customer base. 

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Celsius First Limited is a leading frozen food cold storage and transport business, operating from eight sites across England and Scotland, employing 428 staff, with an annual turnover of approximately £50million. The business operates from sites in Bells Hill near Glasgow (16), Bristol (67), Grimsby (94), Kings Lynn (156), Stratford, North London (18), Wisbech, Cambridgeshire (31) Hams Hall near Birmingham (28) and Hoddesdon, Hertfordshire (18).

The appointment of administrators follows recent significant losses at the company attributed to the reduced demand for frozen food storage and resulting increased price competition.

In 2003 ProLogis Inc. sold Celsius First Ltd to Celsius First Holdings Ltd, a corporate venture between Oregon Capital Partners (an industrial holdings group), the Bank of Scotland and Celsius First Management.  Today, the company operates with 30% market share of the UK frozen food primary distribution business and works on behalf of some of the UK and Ireland's leading food manufacturers.  Celsius First also supports regional food manufacturers and providers through each of its network of temperature controlled storage.