PART of a long-established Gwent chemicals firm has been saved, but the remaining three other businesses have folded after receivers were appointed.

H Haeffner & Co, which has its HQ in one of Chepstow's most historically important buildings, has been sold and its 31 employees retained after Barclays called in receivers Grant Thornton.

The 150-year-old chemicals firm, which owned 300-year-old St Maur House, in Beaufort Square, has been bought by a firm called Grolman, which will continue to use the building for the time being.

The three other businesses in administrative receivership were distribution firm Mineral & Technical Services (Belper), paint products manufacturer Colorblend and holding company Idatchi Group.

A spokesman for Grant Thornton said: "Idatchi group was purely a management company, but underneath it had a manufacturing company called Colorblend, a subsidiary, which made paint products, which has now ceased trading. The 49 people employed were all made redundant prior to the appointment of the receivers.

"There were also two distribution companies, H Haeffner & Co, and Mineral & Technical Services (Belper).

"Haeffner has been sold and the 31 employees have been retained, but the other firm, which employed four people, has ceased trading and the employees have been made redundant."

He said Grolman have been allowed to stay in St Maur House for a month. The Haeffner Group put its 300-year-old HQ building on the market earlier this year with a price tag of £550,000.

The firm moved to Chepstow after being bombed out of its London premises by the Luftwaffe in 1941.

In March this year the firm said it was selling St Maur House because it was no longer big enough.

It was thought the firm had its eye on shifting to a new business park being developed in the Thornwell area of the town.

Haeffner handled industrial colourants for a wide range of firms in the UK, and its chemicals were used to colour road surfaces on the Severn Bridge.

PICTURED: The former Haeffner offices in historic premises.