SPG enters administration
13th August 2015
UK: PwC has been appointed as administrator to Cambridgeshire-based display cabinet manufacturer and refurbisher SPG.
The company, which registered a loss of £219,000 on a turnover of £12m in the last reported accounts in 2014, filed for administration at the end of last month. The loss was blamed on a major customer going into administration.
SPG Limited was founded in Welwyn Garden City in 1987 as a display case installation contractor. Over the next 20 years, the company grew to embrace case refurbishment work and display case manufacturing, moving to it’s East Socon address in 2002 and opening an office in Glasgow in 2008.
A management buy-out in 2009 saw senior managers Tony David, Steve Leach, Harry Rees and Gary Smith taking over the business from major shareholder Gary Edwards. At the time of administration the company had around 140 employees and 6,000m² of production space.
