Dozens of jobs have been saved at a Derbyshire accident repair business after it was sold out of administration.
Lee Lockwood and Andrew Mackenzie, from Begbies Traynor, were appointed as administrators to Long Eaton-based accident repair specialist WG Newman (Garage) on May 22.
Established in 1965, the company provides specialist paint and body repairs and is also able to deal with complex high strength steel and structural work.
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Unfortunately, the business saw a decline in turnover caused by more competitive market conditions, coupled with a loss of efficiency within the business.
After a period of marketing, which resulted in various offers, a pre-packaged sale was agreed to Pronto Care Midlands, part of the Lovells Group, which has auto repair sites across the Midlands.
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The deal sees all 27 staff transferred to the purchaser.
Joint administrator Lee Lockwood said: “After more than 50 years of trading, it is good news for employees, customers and suppliers that the business will continue to operate as part of a larger group. We wish them well.”
Nicky Calthrop-Owen, of Actons Solicitors, acted for the joint administrators and Lemi McAuley, of Shoosmiths, acted for Pronto Care Midlands.