PwC appointed as administrator to display case specialist SPG Limited. Loss of major customer cited as contributing factor
Another supplier in the refrigeration market has had to call in the administrator, as ongoing price competition in supermarkets hits the supply chain hard.
Zelf Hussein and David Baxendale from PwC were appointed to the Cambridgeshire manufacturer on July 28th. The company is reported to have cited the loss of a major customer as contributing to its losses.
SPG has been running for close on 18 years, and in that time forged supply relationships with all the major retailers. It underwent a management buyout in February 2009, with the operational team taking it over.
The company was closely involved in the development of ducted air display cases and won a Cooling Award for the Simply Air case in the same year. The firm subsequently developed the I-Air cases for Asda.
Creditors to the company should visit PwC’s dedicated website for more details: here