THE founder of crisis-hit manufacturer Hatt Kitchens has stepped in to save the company and its 69 jobs.

Clive Hatt led a management buyout yesterday at the firm, which collapsed on Friday with debts of £1.5m.

The former managing director, who took a back seat after an earlier management buyout, 18 months ago, agreed the deal with receivers Moore Stephens Booth White.

But he would not reveal how much money had been handed over for the firm, launched in 1978.

"As founder of the company, I could not sit back and let it go down, along with the jobs of a loyal workforce," he said.

"I'm very pleased to be back at the helm and look forward to building Hatt Kitchens back up and keeping the good name of a prestigious manufacturer."

His brother Trevor has returned to the company as sales director for the retail sector.

Alan Bowden will remain as Hatt's contract sales director, while family friend and business associate Kevin Kane has agreed to act as chairman.

"We're delighted that a sale of the business has been achieved speedily," said Rod Butcher, of Birmingham-based Moore Stephens Booth White.

"It was important, due to the terms of the contracts the company had to supply luxury kitchens to the house-building, trade and domestic markets, that a buyer was found quickly."

Friday's shock collapse, which came despite a strong order book, was blamed on the slowing down of the housing market, which led to a £1m drop in turnover.