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Jobs saved as specialist contracting business rescued in part

The assets of the company have been bought by a Lancashire firm

More than 20 jobs have been saved(Image: Pexels)

Jobs have been saved at a Greater Manchester specialist construction and demolition contracting business after it was rescued in part.

Atherton-based LOR Contracting entered administration towards the end of October, with Kroll's Andrew Knowles and Steven Muncaster being appointed as joint administrators.

After receiving an offer for the company's assets, shortly after the administrators' appointment, a sale was completed on November 2 to F I Construction in Chorley.

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The deal secured the employment of 23 staff that have transferred over under TUPE as part of the transaction.

Mr Knowles said: "We are delighted to have secured the employment of 23 employees through a sale of the assets of LOR Contracting Limited. All jobs have been transferred as part of the transaction.

"The company had suffered severe cashflow difficulties as the economy came out of the Covid lockdown, due to a number of unforeseen costs and some loss-making contracts.