A hydraulic hose company has been rescued by a national competitor hours before it was set to be wound up.
Linden Group, based in Newton Aycliffe, County Durham was due to fold when national firm Hydraquip stepped in to save the family-run firm, established in 1981.
Until a month ago the firm employed 40 people, but after struggling with financial difficulties the workforce was reduced to 26.
Hydraquip, a national company with 10 locations across the country, formed a rescue package which has safeguarded the remaining workforce and it is now seeking to re-employ people to swell the ranks.
Director Fintan Ennis said the new firm, called Linden Hose and Adaptors Ltd, will retain 100% of its employees, and is actively looking to recruit up to five experienced mobile hose engineers to strengthen the team in the area.
Ennis said: “It’s positive news and it is business as usual.”