A Jewish businessman has stepped in to save holiday camp company Pontin’s from collapse and secure the jobs of its staff.

The 65-year-old company, which went into administration in November, has been bought by the Britannia Hotel Group, owned by Hale-based property developer Alex Langsam.

Mr Langsam’s decision means that 850 Pontin’s employees will be able to keep their jobs.

Mr Langsam, 72, opened his first hotel in Manchester in 1976. The son of Viennese Jews who came to Britain to escape the Nazis, he now owns 36 hotels across Britain, including the historic Adelphi in Liverpool.

He told the Guardian that his father’, the “most nationalistic person” he knew, had inspired him to preserve Britain’s history. “He said: "Britain saved his life and gave him a living and he instilled that in me. I am grateful for what this country has given me."

Worth £64 million, Mr Langsam is believed to have paid £20 million to buy the failing company.

He said he considered the prospects for Pontin's to be “very exciting” and that the much-loved company would remain “a national treasure”.

He added: “Our plans will take shape without delay as we look towards developing a bright future whilst retaining the best traditions of the past. Pontin's will remain a national treasure, to be enjoyed by generations to come."