AN HISTORIC sweet manufacturer has been bought out of administration, saving the 90-year-old firm and the jobs of all 38 staff.

Stockley’s Sweets, based in the Oswaldtwistle Mills complex, in Colliers Street, produces favourites including boiled sweets, fudge, pear drops and chocolate limes.

But it had been in administration since last month following the demise of parent company, Stoke-on-Trent-based Mr Lucky Bags Ltd, which went under after the collapse of Woolworths last year.

Today bosses have announced a deal which will see Stockley’s Sweets bought by Leeds-based wholesaler Morris and Son Ltd, leading to a larger range of products in the newly-enlarged company.

Andy Needham, managing director of Morris and Son, said: “We saw a really good fit between our businesses and have been able to secure a deal with the administrators that saves all the jobs, helps us grow our business and creates more opportunities for Stockley’s too, so it’s a dream deal for us.”

Mr Lucky Bags, which supplied Woolworths nationally, was dealt a massive blow by a bad debt incurred when the retailer collapsed in November 2008.

Steve Roberts, of BTG McInnes Corporate Fina-nce, which worked on the buy-out deal, said there had been interest from a number of other parties in the company.