SIXTY-FIVE scaffolding jobs have been saved in County Durham after a management buyout.
Bow Scaffolding Group North-East, in Peterlee, County Durham, went into receivership in June with its Essex-based parent company.
A new company, North-East Scaffolding Limited, has been created with the help of Darlington business advisors Clive Owen and Co.
North-East Scaffolding Limited will trade from the North-East Industrial Estate, in Peterlee.
Peter Taylor, associate director of Clive Owen Corporate Finance, said: "The management team has made substantial financial and emotional investments in the new business."
Mike Gercke, of PricewaterhouseCoopers, which was appointed joint administrative receiver, said: "We are pleased that we have been able to conclude a sale of the business and assets as a going concern in such a short period of time following our appointment, which has preserved the employment of 65 jobs in the North East.
"In addition, North-East Scaffolding Limited is continuing to perform the majority of the company's contracts which has enabled a seamless continuation of services to customers of the business."
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