Butchery firm Crawshaw Group has been rescued from administration, safeguarding circa 240 jobs.
The business and assets of the firm have been sold for £1.4m to Loughanure Limited, a company newly formed for the purpose of the acquisition.
A sale process run by the administrators resulted in over 50 expressions of interest in parts or all of the business.
Crawshaw will now be delisted from the AIM market.
Administrators are continuing to market the sale of certain closed stores and related assets as well as recovering outstanding debtors.
The group operated 54 butchers’ stores across the North of England and the Midlands, with a distribution centre in Astley, Greater Manchester and a distribution and production facility in Hellaby, Rotherham.
It closed 35 stores and the Astley distribution centre. The remaining 19 stores and the Hellaby production and distribution facility have been sold to Loughanure.
The Group’s only remaining assets are a long leasehold property in Grimsby, short leasehold interests in closed stores, surplus store equipment and a number of vehicles.