Distressed fabric business purchase creates new opportunities

Fri, 03 Dec 2010

A Clitheroe-based textile company is planning on using its purchase of a distressed Dorset fabric producer to expand into international export and distribution opportunities.

Thornber Home & Leisure purchased Busby & Busby, which is based in Blanford Forum, for an undisclosed sum, saving it - and eight jobs - from administration.

The deal was led by the managing director of Thornber, Bill Collins, and international sales consultant, Neil Mooney. They said they had been particularly drawn by the business Busby & Busby had done in distributing linen, cotton and silk to countries including the US, Russia and China.

Mr Collins said, "This acquisition is another key one for Thornber and opens up worldwide export and distribution channels for the company."

The deal is Thornber's second purchase of a distressed business in as many months. October saw them by Blacksheep Textiles, a Bury-based fabric dyeing company that has also been facing administration. The purchase has seen Blacksheep turned around and it now has a staff of 80 engaged in the weaving and dying of fabrics for home textiles.

David Sharpe, of Pierce Corporate Finance in Blackburn, who advised on the deal said it was a very strategically important deal for Thornber as it will afford them direct distribution access to a number of key markets and further improves the company's offering.

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