AN established Colchester dessert firm has been bought out of administration saving 30 jobs.

Indulgence Patisserie Limited, which is based in Clough Road, has been purchased by investment firm Volvere plc.

The business, which manufactures premium desserts for retailers, was founded more than 30 years ago but fell into financial difficulties and entered administration last month.

Abigail Shearing and Steven Law were appointed administrators of the firm on behalf of RSM Restructuring Advisory LLP.

The successful sale has ensured the business will continue trading as a going concern and existing staff will keep their jobs.

Mr Law said: “Given the challenging position the company found itself in, the sale of the business to Volvere is a positive outcome.

“The creditors will receive a substantial return, the existing staff will retain their jobs and the business will continue to supply its customer base.”

Indulgence shares a number of clients with Shire Foods Limited, a pastry products business also owned by Volvere.

Jonathan Lander, chief executive officer of Volvere, said: “We are delighted to be making this investment in a well-known, highly-regarded desserts manufacturer.”