UK security company employing 40 plunges into administration

A UK security company employing 40 people has plunged into administration. Aberdeen’s Vigipro Security & FM Limited has been placed into administration after a creditor court petition, which was later dismissed, The Herald reported. The Aberdeen company’s assets have been sold in a pre-pack sale. It is understood that jobs have been saved and that staff will be transferred. The company’s assets have been sold to VGP Security Limited, operated by a director of Vigipro, The Herald also added. The business, founded in 2022, provided “tailored security guarding, keyholding, alarm response and CCTV monitoring, with a UK service line”.

Quoted by The Herald, joint administrators Brian Milne of Quantuma Advisory, Jessica Barker and Alan Fallows of Xeinadin Corporate Recovery, stated: “Business grew rapidly, and the company expanded operations by employing further staff and moving to larger office premises following being successfully subcontracted to a major retailer. Unfortunately, in June 2024, the major retailer decided to withdraw the contract. This had a significant impact on turnover and the loss of revenue affected overheads significantly.”

The company continued to trade in the hope that further work would come to fruition but according to The Herald, it suffered a further blow as another significant contract with a major retailer was also lo

Following the appointment of the joint administrators, “staff were advised with regard to the joint administrators’ appointment and the administration and informed that a sale of the business and assets had been completed to VGP Security Ltd. Staff were then informed that their employment had been transferred.

“The joint administrators also obtained details of the company’s workforce to establish any redundancies made prior to the administration.”