MD's firm buy-out saves 70 jobs

Steve Powell, the MD of Dragon Rescue, is working with administrators.

More than 70 jobs have been saved at a vehicle breakdown and recovery company after its managing director bought it out of administration.

Dragon Rescue, which is based in Cardiff with offices in Pyle and Merthyr Tydfil, will trade as a stand-alone operation, saving 73 jobs.

The Iveco truck dealership side of the business will remain in administration.

The two sides of the company were put into administration this week as part of the Dragon Truck and Van Ltd group.

Managing director Steve Powell bought out the Dragon Rescue side of the business and said he was working hard with administrators to save the remaining part of the business.

In a statement Mr Powell said: "Dragon Truck and Van Ltd was brought down, despite everyone's best efforts, by its Iveco truck dealership.

"Dragon Rescue, which was the core business, has always been successful and I'm just glad that I have had the opportunity to save that business and 73 jobs.

"Although I am delighted for those staff whose jobs have been saved, I remain extremely concerned for those on the truck and van side and I am working hard with the administrators to try to secure a future for them."