19 jobs saved but 20 lost as fibreglass firms exit administration

SOME 19 jobs at two fibreglass products manufacturing businesses have been saved after the companies – including one based in Burntwood – were sold out of administration.

However, 20 other jobs were lost.

The sale of Country Leisure GRP and Loyal Grove Leisure has been announced by Julie Palmer and Neil Vinnicombe of business rescue and recovery specialist Begbies Traynor.

The administrators were appointed over the businesses to handle a sale out of administration to Country Leisure Fibreglass.

Country Leisure GRP and Loyal Grove Leisure employed 39 members of staff from premises in Burntwood in Staffordshire and a base in Hampshire.

The firms specialise in the manufacture and contractual business of fibreglass products including architectural features, water slides and vehicle bodies. Combined turnover of the group was around £3m.

Palmer, who is regional managing partner for Begbies Traynor’s South West region, said: “The businesses had previously suffered a slew of bad debts and we always felt that there was always a viable business here if they were given a fresh start.

“We were particularly pleased that we were able to save 19 of the 39 jobs.”