Reading the Pugh company history the family sold up to a management buyout back in 2005. Reading on from there, it’s would appear that they have diversed so much and probably too quickly to sustain the growth? In essence, overstretched themselves in competitive markets. I sincerely hope that someone can be found to take over the company with as little job losses as possible. Not the ending to a local well known and esteemed company that we would wish for 
Very sad indeed.