The business and assets of a company, specialising in modular building construction, have been acquired out of administration, safeguarding more than 70 jobs.
Following a marketing campaign and negotiations with various parties, the Joint Administrators can now confirm they have completed the sale of the business and assets of the £30 million turnover company as a going concern to a third party.
Dean Watson, partner at Begbies Traynor, said:
“We are pleased to have completed a going concern sale of the business, which safeguards the jobs of a loyal and skilled workforce. These are particularly challenging economic times for everyone in the construction sector but this acquisition saves jobs and enables operations to continue. We have been assisted by Rob Turner of Brabners and Paul Pilling of Hilco Valuation Services with the transaction.”
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