Multiple jobs saved as engineering company is rescued out of administration

Multiple jobs have been saved after a Dorset engineering company has been bought out of administration, a recent news report in the local business media has been able to suggest.

TG Engineering is a specialist engineering business based in Ferndown that provides precision-engineered parts to the aerospace industry, employing about 65 full-time staff.

The company initially experienced difficulties in 2015 and entered into a company voluntary arrangement (CVA). However, losses continued resulting in the need to appoint administrators.

Richard Saville and Andrew Cordon of Corporate Financial Solutions (CFS) were appointed as joint administrators of TGE Realisations Ltd, formerly TG Engineering Ltd, on 26 September 2016.

The business was advertised for sale and the administrators received a number of expressions of interest, culminating in the successful deal completed on 28 September.

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