Administrators handling the collapsed construction giant Clugston Group have agreed a sale of the distribution business.
AJWG Ltd has swooped for Clugston Distribution Services Ltd, which was not part of the insolvency process.
The Scunthorpe business had traded as normal through recent weeks, having gone from a standing start to a top 10 海角视频 tanker fleet operator in recent years, employing 153 people.
Based in Glenfield, Leicestershire, AJWG has acquired the share capital in an undisclosed deal following a marketing process by KPMG, from where the administrators were appointed by the wider group in early December.
James Clark, joint administrator of Clugston Group Ltd, said: “This sale represents a positive outcome for Clugston Distribution, its stakeholders, and for the local area. A solvent sale ensures ongoing trade for the business, its supply chain, and, furthermore, helps secure jobs for the incumbent workforce.
“The deal is testament to the considerable efforts of the senior management team at Clugston Distribution and my colleagues who have worked tirelessly to secure the future of the business.
“Of course, there is still much more work to do. We continue to explore all options as we look for buyers for the contracts and divisions in administration.”
Huge losses on a number of large and complex energy from waste contracts, “accentuated by the insolvency of a key sub contractor”, were cited, with discussions with key stakeholders failing to stave off a collapse.
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KPMG officials were appointed on December 6, with 150 of the 412 staff immediately made redundant.
A further 128 went in the first week of the year, while 82 were taken on by partner contractors and others picking up the work, mitigating some of the devastation.
A special protection claim is now being brought by scores of workers.
Clugston Distribution is based on Brigg Road, not St Vincent House, the business seat of the three-generation family entity.
The company carries bulk powder, steel and long products, distributed fuel and handles general haulage.
The facilities in Scunthorpe offer commercial vehicle engineering and maintenance, and include a Renault Truck 海角视频 franchise with DVSA MoT and tachograph testing services.
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A fuel arm was launched in 2012, with four vehicles and two customers, in March last year it celebrated delivering its two-billionth litre of fuel.
Inside eight years it had progressed to a bulk fuel logistics fleet featuring 18 vehicles, 20 trailers, 32 drivers – trained in-house – and two planners, operating across three depots in Billingham in the North East, Scunthorpe and Upper Broughton in the East Midlands.
Customers range from supermarkets, shipping companies and vehicle manufacturers, to independent fuel forecourts and suppliers across the country.
Clugston Estates Ltd is unaffected by the administration and continues to trade under the control of its directors. David Clugston, deputy chairman of the group, described it as "good news finally for all the employees at Clugston Distribution".