A COMPANY which was the first in Wales to secure backing from the Business Growth Fund (BGF) has entered administration, it has been revealed.
SHS Integrated Services Ltd, which has a base in Barry, is a company which provided construction services including scaffolding and insulation.
The business has gone into administration and it has been reported that 148 staff have been made redundant.
Insider Media Limited reported that the company went into administration as a result of "poor trading performance" across the past two years.
The news source also reported that BGF - a company that helps smaller and medium-sized businesses grow - invested £5.4 million in the group in 2012.
A spokesman for BFG confirmed that SHS had entered administration.
He said: "I can confirm that the company has gone into administration.
"As a minority shareholder we will help in any way we can."
SHS Integrated Services Ltd was contacted for comment.
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