Wed, 25 Jul 2018 | ADMINISTRATION
Based in Redditch in the West Midlands, SP Group Limited is a leading producer of point of sale and display solutions for retailers and top brands. Allan Graham and Matt Ingram of global adviser, Duff & Phelps have been appointed as administrators of the business as of 24 July 2018.
Duff & Phelps cover valuation, corporate finance, investigations, disputes, cyber security, compliance and regulatory matters.
SP Group was recently sold by St Ives to SelmerBridge alongside Flintshire-based field marketing agencies Tactical Solutions UK and Flare, and large format graphics business, Service Graphics. These companies remain unaffected by the administration.
Allan Graham stated: “SP Group has suffered from a significant decline in turnover following the loss of key customer contracts last autumn and a further decline in customer-support since the business was acquired this spring. This has created a challenging financial situation for SP Group and has adversely impacted the cashflow and performance of the business in what is already a highly competitive market. This, combined with the increasing uncertainty impacting both the retail and hospitality sectors, is a contributing factor in why SP Group has gone into administration.
“We are now actively engaging with customers to understand their individual requirements. We are working with management to explore the options available to preserve as much of the business as possible, however there may be substantial job losses as a result of this process.”
A business with over 60 years experience in digital signage, temporary, semi permanent and permanent point of sale, retail windows, store ‘look and feel’ and Managed Production Services, the operations of SP Group Limited are largely situated in the retail and hospitality industries.
For more news stories about administrations click here. For all our administrations listings, click here.
Combines a range of communication channels to create bespoke campaigns for clients located throughout the UK and internationally. Services include PR (traditional and digital), social media campaigns and the provision of influencers and VIPs. Offers...
LEASEHOLD
This well-known, profitable promotional merchandise business was established 49 years ago and benefits from a varied database of customers including charities, local authorities, universities, sports clubs, etc most of whom are very long-standing and...
LEASEHOLD
Specialist provider of print & mail postal solutions throughout the UK & Ireland. Delivers secure print & mail services to both the public & private sectors and individuals via its dedicated software platform. Offers invited.
|
20
|
|
Sep
|
Thomas Cook seeking 'last-ditch' fire sale | BUSINESS SALE
Thomas Cook Group is reportedly trying to piece together a l...
|
19
|
|
Sep
|
Smith & Williamson and Tilney to merge | MERGER
After revealing in August this year that talks were in place...
|
18
|
|
Sep
|
Infrastructure investment manager takes stake in LJLA | BUSINESS SALE
Infrastructure investment management group, Ancala Partners,...
Sign up to receive our acquisition alert emails to get your FREE guide
|
02
|
|
Feb
|
High street wine retailer Oddbins enters administration | ADMINISTRATION
Off-licence chain Oddbins has gone into administration. Its ...
|
22
|
|
Jan
|
Jewellery retailer enters administration | ADMINISTRATION
A Nottingham-based jewellery and watches company has fallen ...
|
15
|
|
Dec
|
Two pub companies enter administration | ADMINISTRATION
Mitchell’s of Lancaster (Brewers) Limited and York Bre...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources