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Dorset building firm saved following sale

Begbies Traynor has announced the sale of a Dorset-based building firm out of administration with 20 jobs set to be retained.

The insolvency specialists have sold C G Pitcher & Son to Hazel & West (Dorset) but will continue to trade under its original name.

Begbies Traynor’s Bournemouth office was called in to act as administrators to the firm - which was established in 1903 - on 13 June.

Begbies’ partner Julie Palmer explained: “C G Pitcher had grown from a turnover of £700,000 just three years ago to £5 million very rapidly.

“When four contracts they were undertaking became loss making -  in particular a £800,000 contract at Avon Castle – they did not have the resources on their balance sheet they required to carry on.”

She added: “The new business hopes to continue with some of the contracts that were being undertaken but the problems caused by over-trading have led to a significant downsizing.”

A total of 20 of the original 42 staff will be retained by C G Pitcher & Son following the sale.

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