There has been “encouraging” interest in the assets of an award-winning signage business following its demise.
Fifty jobs were lost when Sign Plus fell into administration, citing “serious cash flow problems, stemming from rising operational costs” earlier this month.
A total of 29 people in Aberdeen and Peterhead were made redundant. A further 21 jobs were lost at the firm’s Fife base.
The business immediately ceased trading and the assets were marketed for sale as administrators from FRP Advisory were appointed.
Interest in assets of collapsed firm
Two weeks on from the firm’s collapse, administrators reported there had been strong interest in its assets.
A spokesman for FRP Advisory said: “There has been an encouraging level of interest in the assets of Sign Plus.
He said: “The assets, which include plant, equipment, vehicles and intellectual property, will be sold either in whole or in part.”
What was Sign Plus?
Sign Plus and its subsidiaries were part of a larger company, Manchester-based PFI Group.
Sign Plus provided a full design, manufacture, installation and maintenance service for a wide range of industrial, commercial and public sector clients, including the Ministry of Defence.
The business, with multiple awards to its name, was founded in 1992.
The company also operated Loftus Signs in Aberdeen, which specialised in engraving and vehicle graphics.
Its other arm, Jasmine – which was rescued out of administration in 2021 – provided a wide range of print, signage and creative display services.
These two firms, both based on Quarry Road, employed 27 people in total in the Granite City.
There were 18 at Loftus Signs, reputedly the largest signage company in the north of Scotland, and nine at Jasmine.
The spokesman urged anyone interested in the assets to contact the administrators.
He added: “The joint administrators are encouraging any other interested parties to contact the Glasgow office of FRP Advisory as soon as possible.”
Conversation