Hawick-based Dawson International is centre of plenty of attention
ADMINISTRATORS of cashmere business Dawson International have sent out detailed information packs to 35 potential buyers after receiving “strong interest” in the firm’s Hawick-based mill.
The deadline for bids has been set for next week, although Blair Nimmo, head of restructuring, said it could take “some time” after the closing date strike a deal.
The business was put into administration earlier this month after its owners received a demand from pensioners for £129 million to close its pension deficit, putting 180 jobs at risk. Previously the Pensions Regulator and the Pension Protection Fund (PPF) had rejected a deal to let the owners keep the business as a going concern while offloadfing the pension fund to the PPF.
The historic Barrie Knitwear mill in Hawick made £1.1m profit on £9.7m in revenue and its main customers include fashion houses Chanel and Hermes.
Nimmo said: “Whilst encouraged by the level of interest we have already received, our priority remains finding a genuine and sustainable bid, as such we have set a closing date of 29 August for indicative offers.”
“We are aware how critical the future of Dawson International is to employees, customers and suppliers and want to allow time to achieve the best possible deal for the company.”
Belinda Robertson, the cashmere company, is among those believed to be casting an eye over the business.
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