REDDITCH-based SP Group has collapsed into administration, ‘putting 371 jobs at risk’.
The Moons Moat-based company, located on Hedera Road, specialises in shop lay out and design for many key high street retailers and the hospitality sector.
The firm, which on its website says it can turn ‘browsers into buyers’ is the latest casualty of tough times on the high street which has seen the closure of firms like Maplin, Toys R Us and Poundworld.
Other retailers have announced cut backs, for example when House of Fraser announced the closure of 31 stores earlier this year.
Such problems are likely to have heaped further pressure on SP Group.
www.thebusinessdesk.com/westmidlands/ reports that Allan Graham and Matt Ingram of Duff & Phelps, have been appointed administrators to SP Group with Graham warning “there may be substantial job losses” even if they are able to preserve large parts of the business.
