ENTREPRENEUR Michael Wright, 34, today showed how he is turning around his Bolton-based meat processing company after completing a buyout and securing fresh finance.

Michael bought Bolton Cold Stores for £250,000 and has transformed £30,000-a-month losses into a small profit. He arranged an asset-based lending facility from Lloyds TSB to invest in the firm's facilities, which has helped him win new contracts. The business is on track to generate sales of £10m this year.

It employs 27 staff and supplies meat to butchers and bakers in the Bolton area.