Hawick-based Dawson International is centre of plenty of attention

By ERIKKA ASKELAND
Published on 25/08/2012 00:00

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.

Related Articles

• Cashmere firm in crisis after regulator rejects pension rescue

  Cashmere firm Dawson International has warned 200 jobs are at risk after long-running negotiations with a government-backed pension rescue scheme have failed.

  1 Comments

• Dawson investor’s shares plunge on pension impasse

  Shares in Dawson International investor Leeds Group plummeted 9.3 per cent to 15.88p yesterday after it admitted the value of its stake in the cashmere business was “uncertain”.

  0 Comments

• Dawson edges closer to brink

  TROUBLED cashmere firm Dawson International could call in administrators as early as this week after a deal to rescue its 3,200-member pension fund was rejected by
regulators.

  0 Comments

• Dawson on the brink as shares suspended

  THE board of cashmere firm Dawson International suspended trading in its shares on Wednesday after it was landed with a call for a multi-million pound top-up to its pension fund.

  2 Comments

• Cashmere queen Belinda Dickson ‘has not ruled out’ move for Barrie Knitwear

  CASHMERE entrepreneur Belinda Dickson is among those casting an eye over the Barrie Knitwear mill in Hawick after its parent company Dawson 
International went into administration last week.

  0 Comments