Hundreds of jobs saved at AFM and Granite Le Pelley after management buyout

Hundreds of jobs have been saved across the Channel Islands after management buyouts confirmed at AFM and Granite Le Pelley.

The future of the companies was at risk after the liquidation of parent company, the Garenne Group.

320 staff at AFM across the Channel Islands, as well as 41 Granite Le Pelley employees, have all now had their roles secured.

Following the buyout, Granite Le Pelley will continue to be run by the same directors.

However, property developer, Stuart Wright, will now run the Jersey business.

The successful buyout news comes as Rabeys, who were part of the same parent group, failed in its management buyout in Jersey and has now gone into liquidation.

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