Lofthus Signs and Engraving Limited, based in Aberdeen, design and create bespoke signage for a range of businesses, from sole traders to multinational organisations, across all sectors. Following a difficult 18 months for the business, directors had to make the decision to enter Administration.
Following the appointment of Joint Administrators, Lofthus’ trade and certain assets of the business were sold to a new company set up by Manchester-based business, PFI Group.
The deal safeguards 25 jobs in Aberdeen and ensures continuity of service for customers. The new business will continue to trade from the existing Lofthus premises on Whitemyres Avenue in the short term while the property is marketed for sale.
Darren McMurray, CEO at PFI Group, 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.’