43 jobs saved in Renfrewshire as
purchase concluded of shopfitting firm
July 30 2019
Forty three jobs have been saved in Renfrewshire after
CGC stepped in to buy a shopfitting firm.
City Gate Construction has purchased Linwood-based Dimension Shopfitting for an undisclosed sum and pledged: “No-one will lose their job.”
Dimension Shopfitting went into administration because of “cashflow pressures” before CGC came to the rescue.
CGC’s first undertaking was to reassure the staff that they will continue to have jobs, there will be no redundancies and that the new owns are committed to Dimension continuing to trade.
CGC – in its statement announcing the purchase – indicated it has a “robust strategic plan” to grow the business including investing in it.
CGC said it was “delighted” with the acquisition which is a “superb fit” with the existing construction business which has undergone significant expansion in recent years.
CGC now has offices across the UK and remains one of Renfrewshire’s principal businesses
It has a strong reputation for expert “fit-out services” dealing with “high end” clients in the hotel and leisure sector across the UK and Ireland.
Administrators KPMG were appointed on July 18 but quickly sold the business to CGC which KPMG said was “protecting jobs and continuation of trade.’
Established in 1984, Dimension generated annual turnover in the region of £20 million, but challenging conditions in the retail, dining and wider hospitality and leisure sectors, reduced the amount of work available to the business, from its traditional customer base.
Cashflow pressures led to the company being placed into Administration. Despite this, the future order-book remains strong and the Dimension brand continues to be highly regarded.
Blair Nimmo, Joint Administrator and UK Head of Restructuring at KPMG, said: “We are delighted to have been able to successfully conclude a sale which protects skilled jobs in the construction sector and preserves a market leading brand.
“The strength of the brand and its future order book will give the new owners a fantastic footing from which to develop the business further. I wish them every success for the future.”
Leo Reilly, Chief Executive of CGC, said: “This is a good day for Renfrewshire’s economy as we purchase an existing business and, crucially, save the jobs of those working at Dimension.
“The workforce can be reassured that their jobs are safe. We would never have taken over a local business if it meant anyone would lose their job. We will revive Dimension’s fortunes and turn it into a success story once again.
“As a large employer, CGC plays an important part in the Renfrewshire economy and we acknowledge the work done by Renfrewshire Council and Invest in Renfrewshire to boost the economy and tackle unemployment
“The last thing our community needs is job losses and we look forward to a successful future for Dimension as part of the CGC group.”