Paul Dumbell and Brian Green from KPMG's restructuring practice in Manchester have been named joint administrators to SCC, which employs around 149 staff. SCC operates a production facility from its head office in Reddish, Stockport supported by a small team based in a leasehold premises in Sheffield.
The majority of the workforce have been sent home for a temporary period whilst options for the business are explored to preserve the business and asset values for the creditors. The joint administrators have retained a skeleton workforce at its head office to assist them during this time.
Paul Dumbell, director at KPMG, said: "While the company had been experiencing difficult trading conditions in recent months, the insolvency earlier this month of one of SCC's key customers, GB Building Solutions Limited, had left a significant hole in the company's cash flow, such that there was little option but to appoint administrators.
"Over the coming days, we will be working closely with the management team and with suppliers and customers to explore all options for the business."
BDO LLP business restructuring partners, Tony Nygate and Graham Newton, were appointed joint administrators of GB Group Holdings and GB Building Solutions on Monday 9 March. The companies operate from headquarters in Sunbury, Surrey, with offices in Newcastle, Rugby, Wakefield and Stockport. Projects affected by the closure include Bruntwood's £40m Manchester Business School and hotel on Oxford Road, with activity on the site currently stalled.
GB Group advised clients on construction, development, energy, IT, asset management and management services, with specialisms in care home schemes, student accommodation, residential, hotels and leisure, education and commercial projects.