Squibb takes a stand against CMA fine

Essex-based Squibb Group has announced that it has launched an appeal to overturn the fine levied against it by the Competition and Markets Authority.

Along with Erith, Squibb was one of two firms that contested the CMA’s provisional findings last summer.

But even though the CMA cleared it of making so-called ‘compensation payments’, having initially been found guilty of doing so, the firm was hit with a £2 million fine.

Managing director Leslie Squibb has issued a statement that reads:

Squibb Group announces that following the publication of a Press Notice by the Competition and Markets Authority (the “CMA”) on 23 March 2023 and, after consultation with its lawyers and its other advisers, the Company will be initiating an appeal against the CMA’s decision.

The focus of the appeal will, for the most part, concentrate on the background to and determination of the fine. In particular, the fact that the fine is disproportionate when seen in the context of the wider investigation and the other infringements discovered as part of the CMA investigation.

The appeal process is expected to take in excess of 12 months and further announcements will be made by the Company as required.

According to industry news portal Construction Enquirer, Keltbray is also launching an appeal after ten firms were fined nearly £60 million by the CMA with Keltbray hit with a £16 million fine, which, the company says, is “excessive”.

“Keltbray did not instigate any infringement activity or benefit financially from the infringements, and therefore believes the intended penalty is excessive when compared to Keltbray’s level of involvement, particularly when compared to the malpractices of other organisations who did benefit financially from their activities.”