Wilcox buyout saves 70 jobs
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• by Peter Lawton Thirty jobs have been saved following a management buyout of Wilcox Croup from United Trailers.
By February next year the newly formed Wilcox Ltd hopes to re-employ all the 70 workers whose fate had hung in the balance since the group—formed in 1997 after a series of buyouts—went into voluntary receivership last month.
The buyout team comprises former United Trailers directors Chris Bartlett and Vito Ronzano.
Wilcox is still quoting for trailer work, it will operate out of the Market Deeping depot owned by the original EM Wilcox company. Bartlett is confident the company can return to its former glory. "Almost all customers have remained loyal, and we have picked up some new orders as well he reports.
Although the future of Wilcox now seems secure. the prospects for Wisbech Bulk Systems, the other active arm of United Trailers, is still unclear.
The group's creditors, who were owed £6m in AMC this year, are unlikely to see any of their money, according to joint receiver Stuart Mackellar of PricewaterhouseCoopers.
The United group asked its bank to appoint administrative receivers on 31 October, following losses of more than £8m. The company, which has won several CM Trailer of the Year Awards, had a combined turnover of £14m.