50 redundant as Sign Plus files for administration
Sign Plus has appointed administrators.
Based in Dalgety Bay, the company designs, manufactures, installs and maintains signs for a range of industrial, commercial and public sector clients, including the Ministry of Defence.
The company also operates Lofthus Signs in Aberdeen, which specialises in engraving and vehicle graphics, and Jasmine, which provides print, signage and creative display services, and is also based in Aberdeen, plus a satellite office in Peterhead.
A statement from administrators FRP Advisory explained that serious cash flow problems were cause by rising operational costs.
The business has now ceased trading and the assets will be marketed for sale.
This means that 50 employees have been made redundant, with two retained to assist the administrators.
Joint administrator Michelle Elliot said: “Sign Plus and its specialist divisions, Lofthus Signs and Jasmine, are long-established and highly regarded end-to-end suppliers of commercial design, print, graphics and visual branding solutions.
“The business has been adversely affected by rising operational costs and unsustainable financial problems with administration being the only option.”
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References
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References
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References
- ^ sign up here for free (www.insider.co.uk)