Pre-pack saves jobs at P&J

ALL 33 jobs at Pattern book manufacturer P&J (UK) Ltd in Reddish have been saved following a pre-pack administration.

The business in entered administration following its failure to secure a Time To Pay Arrangement Scheme with HM Revenue & Customs to reschedule the payment of corporate taxation.

But the Bury office of Manchester-based insolvency and restructuring firm Leonard Curtis subsequently secured the sale of the business and its assets as a going concern to the existing four directors, trading as P&J (Manchester) Ltd.

Kevin Murphy, director at the Bury office of Leonard Curtis, said: “The successful sale of P&J to its directors and the transfer of the entire workforce to the new business proves the potential benefits of a speedy transaction via a pre-pack administration.”