Receivership & administration

A rampant buy-and-build strategy does not automatically result in success – as ex-employees and creditors of PFI Group can sadly testify – so what was the strategy behind the massive growth plan?

Administrators from FRP Advisory have now been formally appointed at PFI Group’s Works Manchester operation.

Employees at Works Manchester have been sent home, with the future for the business unclear.

PFI Group’s disastrous acquisition spree under CEO Darren McMurray has now culminated in the filing of a Notice of Intention to Appoint Administrators against Works Manchester.

The boss of a door drop leafleting firm has been handed a lengthy ban for abusing taxpayer-backed business support during the pandemic.

The fallout from the challenges facing the PFI Group and the resulting impact on its various business dominated our listicle of November’s biggest news stories.

Wide-format specialist Wahooti will be auctioning its plant in late November.

Workers at PFI Group subsidiary Signmaster have at last gained some clarity and have been told the business is going to administration.

Another PFI Group company has gone into administration, while the trading status of a separate subsidiary is unclear.

Service Graphics has snapped up the trade and assets of Cestrian Imaging, which had been part of the troubled PFI Group.