Buyer found for Brighouse firm

MORE than 100 jobs have been saved at a Brighouse firm after a buyer was found for Avocet Hardare Ltd.

Administrators have secured a sale with L. Fibrelok Ltd and RTMV Jain Ltd which are part of the Atlantic Group.

Andrew Stoneman, joint administrator, Duff and Phelps said talks had been held with several different parties during the last month who wished to buy all or parts of the business.

“We are delighted with the outcome of this administration. Not only was Avocet sold as a going concern but we managed to secure the jobs of 108 employees,” he said.

The company previously employed around 150 employees. It was formed in 1978 and operates through three UK divisions; Builders Hardware; Door and Window Hardware; and High Secretury Lock which was formed in 2010 to market an innovative high security door lock.

The new management said it was confident that with turn-around strategies in place service levels would soon be back to normal.