Administrative receivers have sold timber engineering business Marlow and Company Ltd to The Howarth Timber Group Ltd for an undisclosed sum.
The sale was made immediately after administrative receivers from PricewaterhouseCoopers were appointed on September 30 and the move will save around 200 jobs.
Stephen Oldfield of PricewaterhouseCoopers said: “This is a particularly pleasing deal to conclude as Marlows has significant contracts with major national housebuilders, which could have come unstuck had the sale not been concluded.”
Marlows DIY and Garden Centre Ltd, based on an adjacent property, is unaffected by the sale.
