A MAJOR rescue operation has been launched following the collapse of an organisation coordinating the regeneration of a town.

Rescuers hope to salvage four key projects including a Millennium Green redevelopment scheme and the community newspaper at South Bank, near Middlesbrough, following the collapse of the South Bank Community Forum.

The Forum went bust with the loss of 21 jobs and owing Redcar and Cleveland Borough Council more than £200,000.

Six former Forum employees will manage three of the salvaged schemes: The Way Ahead newspaper; a community transport service offering a shuttle service and training; and a guide to employment scheme, offering training courses and help with job applications and CVs.

There are hopes that technical support from the council will help jump start work on the Millennium Green, a cleared housing site, in the near future.

Graham Brownlee, chairman of South Bank and Grangetown Single Regeneration Board (SRB), said: "Recent events have shaken many people in our community, but we have moved quickly to save jobs and three strong projects.''

The rescuers are the town's SRB board, the council, the Redcar and Cleveland Voluntary Development Agency and Redcar and Cleveland College.

They will meet in March to review the future of all of the Forum's stalled projects, including six others affected by its collapse.

SRB manager Martin Jefferson said: "There is a lot of goodwill in terms of the partnership to make sure the successful projects continue.''