DENBY Pottery has been bought out in a £30m deal.

The firm tonight confirmed the completion of the sale of its UK and US businesses to a management buyout team led by Garry Biggs, managing director.

The buyout has been funded by Valco Capital Partners.

Denby said more than half of the group's £72m debt was being written off.

Mr Biggs said "We are delighted that we have been able to secure a future for The Denby Pottery Company in what are unprecedented times both for the tableware industry and the global economy."

See tomorrow's Evening Telegraph for full story.