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Jobs saved as buyer found for Sunderland’s CTBO

Jobs have been saved after an audio-visual firm was rescued from administration.

CTBO has been bought by CCC Technologies.

The deal for the Sunderland-based operator has retained ten posts.

Formed in 2015, CTBO supported firms across the UK and Europe, providing network and electrical engineering services.

However, it fell into financial difficulties in 2019 and entered a company voluntary agreement a year later after being hit by the pandemic.

David Kemp, joint administrator at insolvency practice SFP, which oversaw CTBO’s sale, said: “At a time where many businesses are facing a variety of pressures, it is perhaps more important than ever for directors to be on the front foot and seek professional advice when concerned.

“While it can be daunting, it will – in most cases – make a meaningful and positive difference to the business and the eventual outcomes.”