ADMINISTRATORS of M&M Plasline have sold two divisions of the failed Durham firm to management.
KPMG - called in by the Newton Aycliffe company three weeks ago following cashf low problems and a loss-making deal - has sold the firm's plastering and prefabricated steel divisions.
The move saves 42 out of 71 jobs in the plastering and drylining division, which will now trade as Plaslines Ltd, and 13 jobs in the prefabricated steel business, which was formerly MMP subsidiary Metek Building Systems.
KPMG was forced to axe nearly 250 jobs from the business, but the sales have saved 55 staff.
A spokesman said it was still in talks over novating other MMP contracts.