Managing director Steve Hutton wanted to put a package together to buy the Top 500 company out of receivership to save its 14 remaining staff. Receivers from Kroll made 12 redundant last week.
This company has been trading for 22 years so its genuinely distressing, said Hutton. Weve been fighting a downturn in turnover and savage margins over the last two years, but particularly over the last six months.
He said the situation had been caught early so many creditors would receive a good percentage of what they were owed.
This is a genuine disaster rescue. We are not a fly-by-night firm, said Hutton.
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