Guernsey AFM management buyout from Garenne agreed

The purchase will help secure the jobs of 320 staff members in Guernsey and Jersey

A Channel Islands facilities firm has announced a management buyout following the collapse of its parent company.

Garenne Construction Group Ltd was put into liquidation at the beginning of April after Camerons Construction became insolvent in February.

Amalgamated Facilities Management Ltd (AFM) agreed to a management buyout with the liquidators of Garenne.

AFM said the transfer of full ownership would allow the company to "continue to grow from strength to strength".

It said the purchase would help secure the jobs of 320 staff members in Guernsey and Jersey.

A property developer is due to take over stonemasons Granite Le Pelley Jersey - another of the Garenne subsidiaries.

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