Manchester signage firm buys struggling Aberdeen company assets

Manchester-based PFI Group has bought assets of Aberdeen company Lofthus Signs and Engraving which went into administration two days ago (Wednesday, September 27).

This follows the appointment of Paul Dounis and Lindsay Copper of RSM Restructuring Advisory as joint administrators of Lofthus, which designs and makes bespoke signage for a range of businesses, from sole traders to multinational organisations across all sectors.

The deal safeguards 25 jobs in Aberdeen and ensures continuity of service for customers, said RSM.

The new business will continue to trade from existing Lofthus premises on Whitemyres Avenue in the short term while the property is marketed for sale.

Darren McMurray, chief executive of PFI, said: “Our acquisition of an established Aberdeen business is a great opportunity for PFI.

“The business will complement our portfolio, including SignsPlus, which will help us support more customers in the North East of Scotland.”

Kevin Lamb, restructuring director at RSM, said: “We are pleased to have completed this transaction within a tight timeframe, as it will see the Lofthus brand remain in the city and safeguard 25 local jobs. We wish Darren all the best for the future.”