More sign-makers bite the dust
Unemployment is down, GDP is back to 2008 levels and the International Monetary Fund predicts Britain’s economy will expand by 3.2 percent this year.
Tuesday, 29 Jul 2014 09:29 GMT
Shut down: sign firms have been hit by the recession
That hasn’t stopped the prolonged economic hangover from the recession to continue with more signage firms biting the dust. This summer a strong of companies have gone under with others struggling to overcome debt from bank loans and overdrafts as well as late payment from customers.
In leafy Kew the firm ECS Signage are being wound up after RLH Knight were appointed liquidators and charged with dealing with the last rites of the sign company. Other companies who have hit the buffers include KMA Signage of Corby and AJB Signage in Skelmersdale.
This year lingerie chain La Senza went into administration with their 55 stores along with Lakeland Leather who have 22 shops, and the West Country Pasty Company who owned 30 retail outlets”
It is a sad fact that only 55 percent of new companies make it through to five years in business while a quarter of start-ups fail to achieve more than a year of trading. Another sign outfit to come to an end this summer is Sign Supply Limited of Wokingham in Berkshire – one of the nation’s wealthiest counties. One reason some sign-makers give for difficult times is when retail clients stop spending or expanding.
This year lingerie chain La Senza went into administration with their 55 stores along with Lakeland Leather who have 22 shops, and the West Country Pasty Company who owned 30 retail outlets. Collectively with many other stores that is a lot of signage work gone for a burton.
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