RSM sells Aberdeen-based signage company out of administration

RSM Restructuring Advisory, which was last week appointed administrator of Aberdeen-based Lofthus Signs and Engraving Limited, has sold the business to Manchester-based PFI Group, safeguarding 25 jobs in Aberdeen.

Paul Dounis and Lindsey Copper of RSM Restructuring Advisory were appointed Joint Administrators of Lofthus, which designs and creates bespoke signage for a range of businesses, on 27 September.

The move followed a difficult 18 months for the business before directors took the decision to enter Administration.

PFI said they will continue to run the business from the existing Lofthus premises on the Granite City’s 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.”