Skonto Plan UK - Administration

Skonto Plan UK, the UK arm of the Latvia-based Skonto Group, entered administration on 12 August.

The company, a cladding specialist which employed about 40 people, has operated in the UK since 2009. The company’s turnover has been growing over the years, reaching over £50.4m in 2022.

Clare Lloyd and Colin Hardman of Evelyn Partners were appointed joint administrators, but have yet to comment on the reasons behind the appointment and whether the company will continue to operate in the UK.

Ultimate Invoice Finance and Nortrust Nominees have registered charges against the company.