Jobs have been saved at a Northumberland building supplies company following the rapid sale of the business to new owners.
Wack Wholesale (Building Supplies) Ltd, based on the Nelson Industrial Estate in Cramlington, has grown to become one of the UK’s largest buyers and sellers of building materials since it was incorporated in 2010. However, it ran into financial difficulties this year due to the impacts of Covid on cashflow and the supply chain.
By this summer, the company was trying to keep afloat while paying wages due in September, putting the firm’s staff at risk of losing their salaries. Iain Nairn and Hilary Pascoe, advisors with Manchester based Leonard Curtis business rescue and recovery, met Wack Wholesale’s accountants in mid-August and were appointed as joint administrators of the company on September 1.
