100 Burnley jobs saved at Metalrax

Niche engineering group Metalrax has been sold by administrators, saving 100 jobs in Burnley and almost 300 more throughout the UK.

On appointment, the administrators sold the business and assets to a group of companies headed by Bowman Birmingham Limited.

In addition, as part of the transaction, solvent share deals were completed for two companies within the group, both of which were not affected by the insolvency process – Metalrax Housewares Limited, which was sold to Cable Capital Partners Limited and Metalrax Overseas Holdings Limited, which was also sold to Arc Specialist Engineering – securing a total of 387 jobs.