Peter Scott & Co finds a buyer

PETER Scott & Co, the Hawick-based textiles manufacturer, has been sold as a going concern to UK clothing company Gloverall after it fell into administration in May.

Almost 120 of the firm's 140 staff were made redundant when it fell victim to the economic downturn.

The remaining employees will transfer to Northamptonshire-headquartered Gloverall, administrators said.

Samuel Lee, Gloverall director, said: "Gloverall is delighted to acquire a business with such a rich heritage and brand presence. We are currently reviewing our intentions to recommence full production of Peter Scott & Company products in Hawick."