COAL bosses say scores of North-East posts have been saved after a deal to rescue a firm from administration.

UK Coal Surface Mines Limited has been sold to UKCSMR Limited in a pre-packaged deal after succumbing to falling global coal prices.

Administrators PwC say it had been appointed to oversee UK Coal Surface Mines’ administration.

The company ran a number of open surface mines, including sites at Park Wall North, near Crook, County Durham, Butterwell, near Morpeth, and Potland Burn, near Ashington, both in Northumberland.

They added all 279 workers have transferred to UKCSMR.

UKCSMR has been set up by David Bolton, a director at UK Coal Surface Mines, with support from Harworth Estates, which was the largest freehold landlord of the company.

David Kelly, joint administrator and PwC partner, said: “The company was part of the UK Coal group, which has been impacted by the decline in world coal prices.

“A number of the company’s planning applications for future surface mine sites were also unsuccessful, resulting in historic restoration obligations in excess of forecast profits.

“The sale has preserved the business to allow the continued operation and restoration of the company’s active surface mine sites and all its 279 workers transferred to the purchaser.”