| Peter Scott & Co bought by Gloverall |
By: Rebecca Hubbard
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Posted: Monday, July 12, 2010 11:40 am
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Peter Scott & Co, the Scottish textiles manufacturer, has been sold to UK duffle-coat maker Gloverall after falling into administration in May.
According to Blair Nimmo of joint administrators KPMG, a number of "interested parties" had been in touch regarding the Hawick-based store after almost 120 of the firm's 140 staff were made redundant. He continued: "Peter Scott & Company is synonymous with quality clothing and the Borders region, so it is particularly pleasing to finalise this sale."
The company, founded in 1878, claim that their fall into administration was down to increased foreign competition coupled with the recession.
The remaining skeleton staff of 21 will transfer to Gloverall at their Northampton headquarters, administrators said.
Samuel Lee, Gloverall director, said: "Gloverall is delighted to acquire a business with such a rich heritage and brand presence. We are currently reviewing our intentions to recommence full production of Peter Scott & Company products in Hawick." |
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