Workers at the firm fell victim to PFI Group’s failings at the end of last year, when Signmaster E.D. Ltd was placed into administration with FRP Advisory.

In the intervening period Karen Kelly, who was project manager at the signage fabricator, worked on a rescue plan that has now come to fruition.

Kelly has set up a new company, Signmaster (Scotland) Ltd, which has acquired Signmaster’s equipment from administrators at FRP Advisory as well as its stock. 

She is now the firm’s managing director and has taken on four other former employees to work at the newco.

“It’s exciting times and we are ready to embrace the future,” Kelly told Printweek.

“Signmaster was worth rescuing because we’ve got very experienced staff, we’ve got good customers and we’ve got an excellent product. It would have been a shame to lose all of that.”

She added: “We are completely rid of PFI and have no connection with them whatsoever.”

The company also needed to find new premises, and has moved into to a new 745sqm facility just across the border with England in Berwick-upon-Tweed.

The old Signmaster had been based in Kelso, around 20 miles away.

“We just couldn’t find suitable premises in the local area,” Kelly explained.

“The new factory gives us room to grow.”

Signmaster Scotland has the backing of a private angel investor.

“We’re very confident about the business going forward with the experienced staff we’ve been able to retain,” Kelly said.  

“We have existing customers that we’re known to, as well as new customers that have come on board. We’re up and running and have orders in hand.”

She said she expected to take on additional team members over the summer, including an apprentice.

The Signmaster Scotland team has spent the past fortnight moving into its new premises, with the business fully operational as of today (18 March).