Jobs saved in engineering sale

A MERSEYSIDE engineering business has been bought out of administration in a “pre-packaged” deal with its management.

In a statement administrators Grant Thornton said the deal had secured 89 jobs at St Helens-based Royden Engineering which designs, fabricates and erects structural steelwork.

Grant Thornton said the firm, which supplies the construction industry, was badly affected by the downturn in the sector, leading to the appointment of administrators Les Ross and Matt Dunham on September 27.

Royden, founded in 1968, was owned and managed by the Ormskirk-based Bennett family. After it went into administration the business and some assets were immediately acquired by a new vehicle called Royden Structures. Its sole director is Anthony Jones, Royden Engineering’s commercial director, while Sean Bennett has joined him as general manager.

Mr Ross, pictured, said: “Concluding this deal quickly provided opportunity to preserve jobs and provide the best outcome for creditors. The removal of uncertainty in a contracting scenario is essential to produce the best outcome. There remain a number of assets to be disposed of and we are working to achieve this.”
 
Grant Thornton said Royden Structures was now trading and is working to fulfil Royden Engineering’s ongoing contracts.