Great news for Corby - 17 jobs have been secured through the use of a Pre-Pack Administration of the company Interkey Services Limited – a manufacturer of bespoke architectural and other metal fabrications.
Following discussions with the major creditors a sale was concluded immediately upon the appointment of Joint Administrators from BRI Business Recovery and Insolvency in Northampton, thereby securing the future of the employees and the completion of the work in progress.
Joint Administrator Peter Windatt reported "Whilst there have been many adverse press pieces about the use of pre-packs I am delighted that a situation which would have resulted in loss of all jobs for this business and probably for others in their supply chain, and, in all likelihood, no return to creditors, had the company entered liquidation, has instead improved the chances of a partial recovery for the unsecured creditors as well as preventing there being any claims from employees – it has also preserved a customer for suppliers that now has the necessary capital behind it to give it and the workforce every chance of a strong future."
The business, which is to remain based at Princewood Road, has gained the backing of a previous satisfied customer. The new company is called Interkey Fabrications Limited and they are already up and running and looking for more clients to keep the workshops and everyone employed there fully utilised. Their address and telephone contact details are all as before.
Peter Windatt, Insolvency Practitioner and Director of BRI Business Recovery and Insolvency added, "I am delighted that we have found a way to preserve so many jobs. We wish the new owners, directors and their team every good wish for a bright and happy future".