Paul Dumbell and Brian Green from KPMG’s restructuring practice in Manchester have been appointed joint administrators to SCC Ltd, a design and build contractor and manufacturer of pre-fabricated concrete structures.
The business operates a production facility from its head office in Reddish, Stockport supported by a small team based in leased premises in Sheffield.
The majority of the 149 employees have been sent home for a temporary period while options for the business are explored to preserve the business and asset values for the creditors. The administrators have retained a skeleton workforce at head office to help them.
Joint administrator Paul Dumbell 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.”
SCC was established in 1981 in Manchester. Initially the company specialised in in-situ reinforced concrete until the late 1980s when it identified a market for prefabricated components and set up a factory alongside the M1, east of Sheffield.
During the early 1990s the company grew its market share and acquired a further factory in Reddish which is now its headquarters and main precasting facility.