Administrators seek buyer for collapsed scaffolding group

Thu, 30 Mar 2017 | ADMINISTRATION

Administrators appointed to a collapsed South Wales scaffolding group are seeking a buyer for its contracts and assets, it has been reported.

Construction Enquirer said SHS Group, a scaffolding and cladding specialist operating in the industrial sector, had been struggling with losses for some time. 150 jobs have been lost.

SHS was a beneficiary of £5.4 million in investment from the Business Growth Fund (BGF), which provides long-term capital for fast-growing British companies.

Administrators Deloitte have been appointed to manage SHS Integrated Services Ltd, SHS Cladding Ltd, SHS Integrated Services (Transmission) Ltd and SHS Insulation Ltd.

SHS, established in 1998, had offices in Port Talbot, Barry and Doncaster and worked in the utility, petrochemical and transmission sectors. It counted Balfour Beatty, Costain, McGee and Laing O’Rourke among its clients.

The group’s problems stemmed from poorly-performing contracts in its cladding and heating, ventilation and air-conditioning divisions. Its management was in the process of winding down the insulation business to concentrate on scaffolding and cladding, but they ran into cashflow problems.

Paul Smith, SHS’s founding director, had tried to re-finance or bring about a sale of the business but failed to secure a deal.

The group has now ceased trading. Deloitte are holding talks with potential buyers for its assets and contracts.

A spokesman for the BGF said: "I can confirm that the company has gone into administration. As a minority shareholder we will help in any way we can."

Find SHS Cladding in administration.
You can subscribe here.


Share this article



Latest Businesses for Sale

Quality Workwear & Leisurewear Wholesaler (Fast Sale)
UK Wide

Indicative offers are required by close of business Monday 20th July. Long established business, founded in 1996. Good core, repeat business customers. Bonded warehouse. Established brand name.

Asking Price: Offers Invited
Turnover: £300k - £1m

Fibre Optic & IT Cabling Solutions
South East, UK

Designs, supplies and installs fibre optic and IT cabling solutions for clients throughout the UK and Europe. Offers electrical, structured cabling and network/Wi-Fi solutions, AV equipment and LAN/ethernet, in addition to project management, consult...

Asking Price: Offers Invited
Turnover: £2,247,561

LEASEHOLD


Importer of Toys & Gifts for the Leisure Industry
UK Wide

Imports an extensive selection of toys and gifts, which are sold to trade customers throughout the UK and internationally. Has established a strong reputation within its sector for its innovative product range, competitive prices and exceptional serv...

Asking Price: Offers Invited
Turnover: £6,135,933

FREEHOLD



View more businesses for sale

News Search

Latest News

 
14
 
Jul
 

Huddersfield retail park acquired out of administration | COMMERCIAL PROPERTY

Huddersfield’s Gallagher Retail Park has been acquired...

 
14
 
Jul
 

Directors of distressed companies get more breathing space | BUSINESS NEWS

The temporary suspension of wrongful trading provisions intr...

 
13
 
Jul
 

Yorkshire retailer Peter Jones enters administration | ADMINISTRATION

Well-known Wakefield-based retailer Peter Jones has entered ...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
14
 
Jul
 

Huddersfield retail park acquired out of administration | COMMERCIAL PROPERTY

Huddersfield’s Gallagher Retail Park has been acquired...

 
24
 
Jun
 

JD Sports buys back Go Outdoors from administrators | BUSINESS SALE

JD Sports has bought back retail chain Go Outdoors after pla...

 
23
 
Jun
 

Digital photography firm Picsolve sold out of administration | BUSINESS SALE

Derby-based digital photography firm Picsolve has been sold ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources