MBO saves jobs at Jordan EngineeringBy Matthew Ord, Digital Staff Writer
Jobs have been saved at Gateshead-based Jordan Engineering after management bought the company out of administration.
Lisa Moxon and Christopher Barrett of Dow Schofield Watts Business Recovery were appointed as administrators on the 19 November.
On the same day, a sale of the business and certain assets was completed to Jordan Precision Engineering which was established by the company directors.
The buyout has saved 35 jobs and the company is now "successfully trading".
Moxon said the sale of the business will "provide continuity" for its loyal customer base.
"We wish the management team every success for the future," added Moxon.
The company operates from a 30,000 sq ft manufacturing facility and provides engineering services across multiple industry sectors.