Air control systems designer Four Seasons Control Group has been partially sold out of administration, preserving 111 jobs.
The company designed, installed and maintained air control systems from seven offices across the UK with a total staff of 153.
Six of the Four Seasons group subsidiaries, including Berkeley Environmental Services Limited and JCW Air Conditioning Limited, have also gone into administration.
Shortly after being appointed as joint administrators, Robert Moran, Robert Hunt and Toby Underwood of PwC, sold a “large part” of the group, saving 111 jobs in the process.
The remainder of the company will be “orderly wound down” to realise value for the creditors.
Robert Moran said: “The Four Seasons Control Group has faced a number of issues over recent years with regards to profitability, as a result of its high fixed cost base.
“The directors decided that it was necessary to put certain entities into administration. I am pleased that we have been able to sell the majority of the businesses, preserving jobs and improving the creditors’ position.
“It is unfortunate that there have also been a number of redundancies as part of the process. I hope that the individual businesses will now stabilise and grow.”