WORKERS at Denby Pottery face an anxious wait to find out if their jobs are secure after the firm was bought out in a £30m deal.

The company last night confirmed the completion of the sale of its UK and US businesses to a management buyout team led by managing director Garry Biggs.

It has been funded by private equity firm Valco Capital Partners. Denby Pottery said more than half of the group's £72m debt was being written off.

The news comes after the firm made 35 redundancies earlier this month and a spokeswoman said she could not comment on whether there would be any more job cuts.

She also said staff who had lost their jobs would not be reinstated.

One former employee, who was made redundant two weeks ago after working at the factory for more than 10 years, said the buyout was welcome news.

"It's good if it means other people won't lose their jobs but it is too late for us," said the woman. "The atmosphere in the factory before I left was dreadful. People did not know what was going on."

Denby Pottery said it had been trading successfully in recent years but, like many businesses, had "struggled to service its debt burden".

The company, which is celebrating its 200th anniversary and employs 500 people at its Derby Road factory, said the buyout would enable "a substantial restructuring of the business's finances".

It said that, as well as half the debt being written off, VCP had provided money to be put into the business.

Mr Biggs said: "We're delighted we've been able to secure a future for the company in what are unprecedented times for the tableware industry and global economy.

"With Denby's financial position now secure, we are looking to make a number of quality strategic acquisitions in the sector."

Amber Valley MP Judy Mallaber said she hoped the buyout would secure the firm's future.

"I am obviously very disappointed to hear about the job cuts but this might mean that it can now expand," she said.

"I am sure there is now potential for it to move into other areas."

Amber Valley borough councillor Norman Bull, who represents Kilburn, Denby and Heage, said he hoped there would be no more job cuts in the village.

"If you go down to the factory at the end of the day, you will see a lot of workers walking home as they live locally," he said. "It is important for the area."

Fellow Amber Valley borough councillor Melvyn Hall, who represents the same area, said: "I think it is great news.

"It will probably secure jobs at least in the near future."

Geoff Bonser, owner of the Durham Ox pub in Denby, said: "It has to be good news for the people of the area if it secures jobs."