Brian Green and Paul Flint of KPMG’s North West Restructuring team were appointed joint administrators of The BGM Group Ltd, which has been sold on a pre-pack basis to facilities management business Europa.
The Colwyn Bay-based business provided strategic workplace solutions to a number of significant corporate clients from two leasehold offices in London and North Wales, primarily in the areas of office space management and move management.
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 were able to save 29 jobs.”
After a period of marketing prior to the appointment, KPMG secured the sale of four key contracts and other associated assets on a pre-pack basis to Europa, resulting in 29 of 55 jobs at BGM Group being secured.
A small number of employees have also been retained to assist the administrators on a short term basis.
Greig Brown, chief executive for Europa, said: “This acquisition further develops our capabilities and product offering in the workspace arena, an area where we already excel as part of our FM offering.”