A MEAT company has been bought from administration by its former management.

Meat Express Limited, in Newton Aycliffe, County Durham, has been sold to MB Meat Express Limited for an undisclosed sum.

The new firm has been formed by the former management and Teesside firm MB Meats.

The former company, which had been trading for seven years and employed ten people, went into administration on April 25, because of substantial tax and paye debts.

The ten jobs have been saved and the new company will operate from its premises on Aycliffe Industrial Park.

Meat Express Limited manufactured and supplied processed food throughout the North-East.

Joint administrator Simon Lundy, of the Newcastle office of Begbies Traynor, said: "We are delighted to have been able to secure an early sale of the assets and business thereby preserving the employment of ten people and protecting the position of some customers who had paid deposits to the company and would otherwise have been left as creditors.

"The company was subject to substantial debts for both corporation tax and paye/Nic and the director felt that the company had no alternative but to seek the protection of an administration under insolvency legislation.

"We are confident that there will be some funds available to the creditors at the end of the day."