Fri, 31 Aug 2012 | BUSINESS SALE
The sale of the Barrie Knitwear business, the main UK trading arm of cashmere firm Dawson International is attracting a significant amount of interest.
Dawson International entered administration earlier this month after its owners failed to agree a deal to bail out its pension fund, on which it had massive liabilities. Barrie had, however, been trading well, with £1.1 million of profit on £9.7 million of revenue recorded. It even classed big fashion houses such as Chanel and Hermes among its customers.
It appears that this strength is attracting buyers, with KPMG stating that the assets have attracted “strong interest” from 35 potential buyers. The Barrie mill is included in the sale, along with Dawson Forte, the US side of the business, which was not in administration but is also up for sale.
Blair Nimmo, head of restructuring at KPMG, commented: “We have been encouraged by the level of interest shown in Dawson International and its Barrie and Dawson Forte brands – an illustration of how highly regarded the company is.
“We will now be assessing the bids and speaking to the various parties who have expressed their interest in acquiring the business. We remain confident of achieving a sale in the near future.”
He added that the understanding and patients of the staff and management has been appreciated during this “important period in the history of this prestigious company”.
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