WHEN Darryl Saunders realised the firm he was working for was going to go bust, he knew he had to act fast.
He rallied the support of his colleague John Lockwood and the two of them made plans to set up a new company.
Now they are celebrating after their tool and saw-making firm Spindex, at The Tanneries, in Havant, made almost £4,000 in its first week in business.
Darryl was the workshop manager and John was a profile grinder at CRM Saw and Tool Company Limited in Arnside Road, Waterlooville, before it went into liquidation on Friday, August 17.
They set up shop just three days later.
The duo’s firm makes spindle cutters which are used to create attractive moulds for skirting boards, doors and windows. Plastic templates are made for the cutters before they are put in a grind machine and used to make metal ones.
Darryl, 32, who lives in Hazleton Way, Horndean, said he was delighted with the way things had turned out.
‘A little while ago I realised things were looking bad at CRM so I made plans to set up a new business.
‘It’s gone brilliantly. We’ve taken nearly £4,000 in our first week. It’s been really busy.
‘We’ve managed to attract a lot of the customers who used CRM. John and I wanted to set up a local business which provided a similar kind of service.’
Darryl owned computer firm Syn Star, in North End, before he sold it to Giles Cleverley in 2003. He then got a job at CRM.
‘It’s an interesting line of work,’ Darryl said.
‘It’s something I fell into but I really enjoy it. It’s great that I already know a lot of the customers.’
For more information about the firm visit spindextools.co.uk