2nd December 2014
Jordan Engineering, a specialist in CNC machining and welding fabrication, was placed into administration on 19 November 2014.
Jobs have been saved at a North East firm after the directors bought the firm out of administration.
Jordan Engineering, a specialist in CNC machining and welding fabrication, was placed into administration on November 19, before a sale was confirmed to Jordan Precision Engineering, a new enterprise made up directors Duncan McDonald and Mark Verdon.
The move has secured 35 jobs at the Gateshead-based business.
Administrator Lisa Moxon of Dow Schofield Watts Business Recovery LLP confirmed the move this week.
Established around 40 years ago, Jordan Engineering was originally part of the Andaray Group, which had sites in Sheffield, the Midlands, Yorkshire and Denmark.
A management buyout, led by the late Bryan Jordan, took the business independent six years ago.
Lisa Marie Moxon and Christopher Benjamin Barrett of Dow Schofield Watts Business Recovery LLP were appointed Joint Administrators of Jordan Engineering Limited on 19 November 2014. On the same day a sale of the business and certain assets was completed to Jordan Precision Engineering Limited.
Lisa Moxon commented: ” We are pleased to announce the sale of this long established precision engineering business. The sale of the business to Jordan Precision Engineering Limited has secured 3 local jobs in Newcastle upon Tyne and will provide continuity for the business’s loyal customer base. We wish the management team every success for the future.”