All jobs at a Salford-based cleaning products supplier have been saved after it was sold out of administration.
Curer-Chem Ltd, which trades as Hygienique, has been acquired in a deal overseen by administrators from business advisory firm Quantuma.
However, the identity of the buyer has not been released by Quantuma while Hygienique declined to comment when approached by BusinessLive. The value of the deal has also not been disclosed.
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Hygienique was established in 1984 and specialised in the supply of cleaning products and PPE to multiple sectors including NHS, education and health care.
The business operates from a site in Salford, employing 10 members of staff in total.
Quantuma said the company had been historically profitable but following a leveraged buyout in June 2021, the company was unable to generate sufficient cash to service its increased debt burden which ultimately led to the board of directors resolving to put the company into administration.
Quantuma managing director and joint administrator, Frank Ofonagoro said: "Curer-Chem Limited is a long-standing cleaning products business which has unfortunately suffered from the difficult trading conditions currently facing many UK SMEs.
"These conditions have limited the company’s ability to grow its profits and crucially, generate sufficient free cash to enable it to continue to service debt used to acquire it in 2021.
"The joint administrators are delighted to have been able to secure the future of the business in Salford, and save the jobs and livelihood of all the company’s employees."
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