JUST 12 months after being taken over in a management buy-out, Brighouse company GF Group has been forced to call in the administrators leading to fears of job losses.
The shopfitting and joinery business on Gooder Lane developed an impressive portfolio during the 1990s, producing fashionable interiors for a range of blue chip clients including Nando's, Chicago Rock, the Living Room and Frankie and Benny's, but now the future is uncertain for the company which employs 120 people.
Last March the business was part of a £7 million management buy-out, led by entrepreneur Bill Morris, but last week the firm's directors – Mr Morris, Nathan Astley and Steve Taziker – called in administrators from insolvency firm Begbies Traynor following several months of poor trading.
GF Group Ltd and its subsidiaries Inform Manufacturing Ltd and GF Interiors Ltd had a turnover of £15 million and worked mainly on refitting bars, shops, restaurants, hotels and casinos. The Brighouse company was set up almost 40 years ago under Gordon Fawthrop. In 1990 the firm moved to Gooder Lane and the GF Group was born.
The administrators are seeking a buyer for the company as a going concern but could not rule out the possibility of redundancies. Charles Brook, of Begbies Traynor, said: "This is a very established business with a blue chip customer base and a great reputation in the retail shopfitting sector. The failure of the business is due to a number of factors. Increased material costs, more competition and less investment in retail premises have all contributed to substantial losses and the eventual administration.
"But the business has a great workforce and a fantastic manufacturing capability to produce the highest quality retail fixtures and fittings.
We are confident that the business has a future with the right buyer."
The news is a second blow in recent weeks. In January ambulance firm UV Modular at Armytage Road went into administration with the loss of 140 jobs.
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