Company sold out of administration, saving all 99 jobs

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A Milton Keynes company has been sold in a deal that will secure all 99 jobs at the firm.

Logistical support services company European Collaborative Hi-Tech Organisation Limited “echo”, in High Park Drive, Wolverton Mill East, had been in administration with accountancy firm Wilkins Kennedy LLP.

The company has been bought by field service supply chain solutions provider ByBox Field Support for an undisclosed sum.

Stephen Grant and Anthony Cork, both licensed insolvency practitioners and partners of Wilkins Kennedy LLP were appointed as joint administrators of echo on March 18 and quickly concluded the deal to sell the business and its assets. Echo was established in 1995.

Stephen Grant said: “I’m delighted that we’ve been able to secure a healthy future for the business in a short time period. The main aim was to obtain the best price possible for the assets and secure all 99 jobs at the company, and this deal achieves that.”

“Now that a sale has been achieved, the business has a bright future ahead of it. It always delivered excellent customer service and was winning new clients before entering administration.”

Steve Bolton, chief executive of echo, said: “Wilkins Kennedy successfully executed a swift deal for our company, securing the jobs of all 99 members of staff and ensuring we can continue trading and working with our customers and suppliers. As a part of a larger entity the business will be able to continue to deliver outstanding service levels at competitive rates.”