Shopfitter bought out of administration
A specialist shopfitting firm has been bought out of administration by a Scottish construction group.
Paisley-based Curot Contracts, trading as Dimension Shopfitting, went into administration earlier this week following cashflow difficulties caused by a downturn in work in the retail and restaurant sectors.
The company has now become part of fellow Paisley firm City Gate Construction. Blair Nimmo, joint administrator and UK head of restructuring at KPMG, said the sale “protects skilled jobs in the construction sector and preserves a market-leading brand”.
Although the company had been facing difficulties, Nimmo said the future order-book was strong and its brand continues to be highly regarded.
“The strength of the brand and its future order-book will give the new owners a fantastic footing from which to develop the business further,” he said.
Established in 1984, Dimension generated peak annual turnover in the region of £20 million.
City Gate Construction is a privately-owned construction, refurbishment and maintenance contractor. Its chief executive Leo Reilly said: “The addition of this business undoubtedly enhances the portfolio of services which our group offers.”
Additionally, the group, which also has bases in Lancashire, West Yorkshire and London, was this month named as one of Britain’s top 1,000 growth companies in a report by the London Stock Exchange.