Tri-Wire sale safeguards 31 jobs
TRI-wire, a subsidiary of cable manufacturer B3 Industries, has been sold out of administration.
Tri-Wire, which is based at Normanton in West Yorkshire, was sold via a pre-packaged administration deal to Anglia Metal. The deal has saved 31 jobs.
The sale was concluded by Colin Haig, Paul Flint and Allan Graham, who were appointed as joint administrators of Manchester-based B3 Industries last week.
Since then, the administrators have also agreed to sell off Crawley-based subsidiary Blue Helix to a management buy-out team led by Colin Ryall.
B3 Industries’ main subsidiary, Manchester Cables, and its sister firm FTTX both remain in administration, however. A buyer is being sought for the firms, which employ around 100 staff combined.
Commenting on the sale, Paul Flint, joint administrator and associate partner at KPMG, said, “The difficult trading conditions experienced by the B3 Industries Group has had a knock-on effect on Tri-wire Limited, so we’re delighted to have been able to conclude such a swift sale of the business.
“In particular, it’s fantastic to have been able to safeguard the future of the workforce in Normanton, and we wish both the staff and the new owners well.”
