Dains LLP, the Administrators of Manchester Hosiery Ltd are
pleased to announce that 30 jobs have been saved following the sale
of the business to Aikon International Ltd.
Manchester Hosiery Ltd of Queens Road, Hinckley, are one of the
few remaining knitwear manufacturers in the UK and in addition to
securing jobs for thirty long serving staff, the sale has secured
an important part of knitwear manufacturing history as the firm
have been in existence for over one hundred years.
The company manufactures both underwear and outerwear for men,
women and children, specialising in women's seam-free fancy knit
garments and men's traditional cotton, thermal and woollen
underwear.
Dains LLP were appointed in April 2011, following a review of
the company's financial position. In their capacity as Joint
Administrators, Martin Smith and Nicki Hawksley have continued to
trade the business for nine months, ensuring the continual supply
to customers whilst maintaining the value of the brands they
manufactured, and undertaking negotiations with a number of
interested parties.
Andy Stevens a Director of Dains praised the staff for their
continued support throughout the period of Administration.
The deal which has been completed for an undisclosed sum, sees
Aikon International Ltd, a Hong Kong based international supplier
of thermal and hosiery textile products take over the business with
immediate effect. The acquisition of the brands Palm, White Swan,
Guardian and High Cross which are manufactured by Manchester
Hosiery will play a significant role in assisting Aikon to expand
their already significant southern hemisphere underwear and hosiery
business into Europe, with their added pledge of continuing
manufacture from the Hinckley factory.
For more information on Dains, please visit their website
here: www.dains.com