Jobs saved as buyer found for nursery

AN EDINBURGH nursery that was ordered to liquidate after sinking into debt has found a buyer, safeguarding the jobs of 15 people.

Silver Strawberry has bought the business and assets of Prime Time Nursery, on the city's Queen Street, for more than 1 million.

The new company has been formed by a husband and wife team who operate four nurseries and two after-school facilities in Glasgow under the Small World brand.

The Court of Session appointed Matt Henderson of Johnston Carmichael, the chartered accountant and business adviser, as liquidator of Prime Time in September. Since then, the nursery has been run under licence while seeking a buyer.

Henderson said: "Obtaining a special sanction from the court to run the businesses was risky, but we were confident that this business could be very successful under the right management, particularly with its major asset – a five-storey Georgian townhouse in the New Town of Edinburgh."

I'm confident that the team behind Silver Strawberry will make the much-needed improvements to this business to make it a commercial success."

Allied Irish Bank funded the Silver Strawberry venture.