A Corby company has been sold out of administration, saving 17 jobs.
Interkey Services Limited, in Princewood Road, which makes bespoke architectural and other metal fabrications, was sold following discussions with major creditors after the appointment of joint administrators from BRI Business Recovery and Insolvency in Northampton.
Peter Windatt, insolvency practitioner and director of BRI, said: “I am delighted that a situation which would have resulted in loss of all jobs for this business and probably for others in their supply chain, and, in all likelihood, no return to creditors, has instead improved the chances of a partial recovery for the unsecured creditors, as well as preventing there being any claims from employees.
“It has also preserved a customer for suppliers that now has the necessary capital behind it to give it and the workforce every chance of a strong future.”
The new company is called Interkey Fabrications Limited and it is already up and running and looking for more clients to keep the workshops and everyone employed there fully utilised.
Mr Windatt said: “I am delighted that we have found a way to preserve so many jobs. We wish the new owners, directors and their team every good wish for a bright and happy future.”