High Court orders winding-up

Official Receiver steps in at Rymack Sign Solutions

Darren McMurray: raft of failed firms in wide-format and signage

Rymack Sign Solutions is being wound up by the Official Receiver, following a court order to that effect.

The company, which traded as PFI Group, had been in a state of limbo for months.

A notice for compulsory strike-off was filed in March, but this action was suspended the following month.

Rymack’s accounts for 2022 were never filed, and its accounts and confirmation statement are both flagged as overdue.

The business, owned by PFI Group CEO Darren McMurray and his wife Nicola via holding company Touchwood Holdings, was also the vehicle used to acquire Works Manchester in May 2022.

That deal ended in tatters after Rymack/PFI failed to make agreed payments and Works Manchester collapsed into administration in December 2023, leaving a multimillion pound shortfall.

Rymack Sign Solutions is now being wound up following a petition made by Siemens Financial Services, a creditor of the company.

At the High Court of Justice on 30 October, Judge Prentis ordered that Rymack Sign Solutions be wound up and the costs of the petitioner be paid out of the assets of the company.

The Rymack Sign Solutions balance sheet at 30 December 2021 had detailed net assets of just under £1.4m at that time.

Official Receiver R Dury of Nottingham has been appointed as liquidator.

A raft of other companies where McMurray is a director have already been compulsorily struck off the register.

However, strike-off action against Touchwood Holdings, lodged in April, was discontinued in May.

The same month the firm filed total exemption accounts, including a £39.4m impairment in fixed asset investments, leaving the firm with fixed assets with a net book value of £1.

The business also filed a confirmation statement in August that stated: “The company confirms that its intended future activities are lawful.”