A HORWICH airflow technology firm that went into administration with the loss of 70 jobs last month has had its assets bought by a Preston-based firm.

Mach-Aire Ltd, which was based in Bridge Street in Horwich, ceased trading last month with all full and part time staff made redundant.

Administrators FRP Advisory were called in and have now sold elements of the trade and assets of the business to Preston-based Atlas Clean Air Ltd — a specialist in isolation technologies and air handling systems.

It is not thought that any of the jobs lost at the Horwich base have been saved by the latest move.

Atlas will maintain the Mach-Aire business as an independent trading subsidiary based at its head office in Preston — with an aim to ensure continuity of service for remaining customers.

FRP administrators Tom MacLennan and Ben Woolrych were appointed after Mach-Aire suffered “substantial losses” on major contracts and had been having cash flow problems.

Workers were told on February 20 that their employment had been terminated with immediate effect.

It is believed that weekly paid staff received payment for their work in February but monthly paid staff, who were paid at the end of January, will not receive any wages for their work in February.

The administrators said they received a number of approaches from interested parties but decided that the offer from Atlas presented the “best solution” for the firm and its creditors.

The transaction follows Atlas’ previous successful acquisitions of the trade and assets of Clean Modules Limited and T Jolly Services (UK) Limited.

Ben Woolrych, joint administrator and partner at FRP Advisory, said: “The sale to Atlas provides the best solution for the creditors of Mach-Aire Limited, ensuring the brand can trade under the new ownership of an established, successful Lancashire-based firm and ensuring the loyal customers continue to receive the service and support they deserve.

“The administration process enabled discussions with competitors and other interested parties with a view to achieving a sale of the assets.

“We would like to thank all of Mach-Aire's stakeholders for their support during this process and wish Atlas continued success for the future.”

Paul Riley, managing director of Atlas said: “This latest acquisition is very much in line with our growth strategy and we shall ensure continuing support for the well-established Mach-Aire client base.

“The business has an enviable name for quality and reliability and our focus will be on retaining and developing those vital client relationships.”