JOBS have been salvaged following the collapse of a Kirklees building firm – with the launch of a new business.
Some 37 jobs were lost after Glentworth Architectural Metalwork Ltd went into administration.
Although the company was trading profitably – and was responsible for completing major projects at venues including Sandown racecourse and Twickenham’s new south stand – the firm had to close because of financial problems relating to its parent group.
However, the managers at Glentworth Architectural refused to be beaten – and with financial backing from regional development agency Yorkshire Forward and HSBC have set up new company AS Fabrications (UK) Ltd.
The new company has re-employed more than half the original workforce and continues to manufacture its range of high quality steel and glass balustrades, staircases and balconies from the previous site at Crystal Works, Union Road, Liversedge.
Managing director Mick Fortune said the firm was making “significant” progress, despite the economic downturn.
He said: “We have won substantial new projects, including a new prison in Kent and a new feature building in London, to a value in excess of £1m.
“Things are definitely looking up – a far cry from two months ago when we faced an uncertain future.
“It took a lot of hard work and late nights, but with support from previous customers and suppliers, the decision was taken to move forward with a new company.”
Sales director Jarvis Parsons said: “We are confident that as the business continues to grow we will be able to re-employ more of our previous workforce.
“With the continued valuable support from our long-standing suppliers and customers we are confident of a prosperous future.”
AS Fabrications (UK) Ltd secured financial support from Yorkshire Forward’s Partnership Investment Finance scheme.
The scheme aims to provide small and medium-sized enterprises with the gap funding that they need to grow, develop new products and services, create jobs and attract inward investment.
Finance packages ranging from £15,000 to £1m and are available to businesses in parts of Yorkshire as part of a £37m mixed loan and equity fund.