KPMG administrators arrange pre-pack of BGM Group
Workplace consultancy sold to Europa in pre-pack administration, saving 29 jobs
KPMG ADMINISTRATORS sell workplace consultancy business in pre-pack sale saving 29 jobs.
Brian Green and Paul Flint, both from KPMG, were appointed joint administrators of BGM Group.
Manchester-based facilities management business Europa bought the business which included four key contracts and other assets. However, just 29 of the 55 staff were transferred.
BGM provided office space management services and was based on Colwyn Bay. It sought an insolvency process after short term cash flow issues led to the company being unable to meet its tax obligations.
Paul Flint, restructuring associate partner at KPMG, said: “After suffering from significant short-term cash flow pressures, the business was unable to meet its tax obligations.
“As a result, The BGM Group Ltd was placed into administration. However, we are pleased that, through a successful sale process, we were able to save 29 jobs.”