Cashmere hopes: Barrie Knitwear talks ‘advanced’

HOPES have emerged that the future of the Barrie Knitwear firm could be secured in days after a new buyer emerged.

Blair Nimmo, the head of restructuring at administrator KPMG, confirmed that he had established “advanced negotiations” with a second preferred bidder after talks with a non-UK buyer – rumoured to be the Italian owner of US luxury menswear brand Brook Brothers – collapsed following a “last minute change of mind”.

Nimmo was “pretty certain” a deal to sell the cashmere factory, formerly owned by failed parent company Dawson International, will be sealed within ten days. The sale price is about £5 million.

Sources dismissed reports that the firm’s directors, possibly including chief operating officer Jim Carrie, were leading the buy-out backed by a mystery Edinburgh investor.

ERIKKA ASKELAND