Two manufacturers of fibreglass of products have been sold out of administration, securing the future of 19 jobs.
Country Leisure GRP Ltd and Loyal Grove Leisure LLP entered administration after accruing a “slew of bad debts”.
Julie Palmer and Neil Vinnicombe of Begbies Traynor were appointed joint administrators to the companies on 17 March.
The businesses were sold to Country Leisure Fibreglass Limited, a company set up in May 2013 by Country Leisure GRP Ltd and Loyal Grove Leisure LLP directors Malcolm and Penelope Brown.
Palmer, regional managing partner for Begbies Traynor’s South West region, said: “The businesses had previously suffered a slew of bad debts and we always felt that there was always a viable business here if they were given a fresh start.
“We were particularly pleased that we were able to save 19 of the 39 jobs. The business will continue to operate from its premises in Cholderton.”
Prior to entering administration, the companies employed a total of 39 staff – 20 of whom have been made redundant – at premises in Cholderton, near Andover in Hampshire, and Burntwood in Staffordshire.