FRP Advisory appointed administrators of Chas Smith Group Ltd
Michelle Elliot and Simon Carville-Briggs, partners of FRP Advisory have been appointed joint administrators of Chas Smith Group Limited (CSG), a long-established shop fitting business.
Founded in 1921, the business specialised in design and installation of high-end fit outs, predominantly for automotive showrooms.
Operating from leasehold premises in Kirkintilloch (near Glasgow) and Hoddesdon (north London), the business had nine employees.
Commenting, joint administrator Michelle Elliot, partner of FRP Advisory, said: “Chas Smith Group was a high-end shop fitting business with a number of well-known customers nationally across the UK. The business has unfortunately been severely affected by the pandemic, with a number of projects cancelled or suspended, coupled with increased labour and raw material costs.
“These challenges have resulted in significant cash flow difficulties. Despite every effort by its directors to keep the business trading, the severe financial problems meant the company was not viable.
“Unfortunately, all nine members of staff have been made redundant with immediate effect. We will be working closely with the Redundancy Payments Service and other agencies to minimise the impact on the staff. We are also exploring a sale of the business and assets, either in whole or in part as quickly as possible and would ask any interested parties to contact Kris Tosh of FRP by email at firstname.lastname@example.org.”