Metalwork firm pre-pack saves 19 Jarrow jobs

NEARLY 20 jobs have been saved in a pre-pack deal involving a Tyneside metalwork firm that provided work for the subsea, offshore and renewables sectors.

- TOM KEIGHLEY

Administrators were appointed to AAP Metal Fabrication Ltd in Jarrow last month after it hit severe cashflow difficulties. Four of the firm's 23 staff were made redundant just prior to insolvency experts from FRP taking control of the company.

It comes less than 18 months after the business had been sold in a £1.8m deal to Sussex-based business, DINH Ltd, whose director also owned Washington Waterjet Ltd, which was liquidated in February this year. At the time of the acquisition, DINH - backed by £250,000 of funding from Finance For Enterprise - had hoped to expand AAP and was eyeing the creation of jobs.