Jobs 'safe' after pre-pack sale of city company

THE boss of Devon company CMO has insisted it will remain in the city and jobs will be protected, after it was bought out of administration for £1.8 million.

- WILLIAM TELFORD

Dean Murray, chief executive of the Plymouth-based business, insisted the future of the firm and more than 100 workers was bright, after it was acquired by London-headquartered Lords Builders Merchants.

Mr Murray, who aims to remain with the business, said the deal, at which CMO was valued at £1.2m, will save 125 jobs, of which more than 100 are in Plymouth. He said: "We are going to stay in Plymouth, all employees have been retained and all customer orders will be delivered. It's really positive for the employees and for Plymouth.

"We now have the support of one of the UK's largest builders' merchants, but it will stay in Plymouth. Lords is one of the biggest building materials groups in the country and have acquired the business to grow it.

"I believe it is a positive story for the employees, CMO customers, and for the South West. Plymouth needs growth businesses. There is an opportunity to grow and employ people in the South West. We need more businesses like this down here."