Overview:
Reade Signs Limited entered Administration in December 2025, marking the end of nearly 45 years of trading in the signage production and installation sector.
Following a Management Buyout in 2023, the Company faced a series of challenges that made day‑to‑day operations increasingly difficult, eventually leading to significant financial pressure. After concerns were raised by the Company’s accountant and a secured lender, Exigen Group was approached for support. David Kemp of Exigen Group was formally introduced on 9 December 2025 and was appointed Administrator shortly afterwards.
Financial Challenges:
The period following the MBO proved challenging for the business. Internal disruption, including staffing and employment issues, affected the Company’s ability to deliver projects efficiently. At the same time, delays on key jobs and increased competition within the signage industry placed additional pressure on margins.
Exigen’s Appointment and Outcome:
Exigen’s Administrators identified that Administration would protect remaining assets while a clear plan was established to deliver the best outcome for creditors. A going‑concern sale was not achievable given the financial and operational position of the business at the time of appointment. As a result, the Administrators focused on an orderly asset sale to maximise realisations for creditors.
Reade Signs held a substantial sales ledger, and collection activity commenced immediately following appointment. Early intervention should improve the prospects of a full repayment to the secured lender.
As the business could not continue trading, all employees were made redundant at the point of the Administrators’ appointment.
Key outcomes included:
- A structured asset sale is underway to maximise realisations
- Debtor collections are progressing
- Administration has prevented further losses and ensured an orderly wind‑down
Administrator Comments:
David Kemp of Exigen Group said:
“Reade Signs was a long‑established family business that had undergone a management buyout relatively recently. This case highlights some of the challenges that can follow such a transition. Moving from being part of a management team to business owners brings a very different set of responsibilities, and that shift can be difficult to manage without the right support and structure in place.
The business faced a combination of internal disruption and market pressure and, despite efforts to stabilise the situation, it was unable to recover. Regardless of the circumstances Directors find themselves in, the earlier advice is sought the better the outcome (typically for all parties involved).”