South Scotland

Troubled knitwear firm bought by coat maker

Peter Scott building
Image caption Peter Scott has operated in Hawick for more than 130 years

The troubled Peter Scott knitwear company has been sold to duffle-coat maker Gloverall Plc.

Most of the firm's 140 employees were made redundant when the company entered administration in May.

However, a skeleton staff of 21 has remained in post.

The Hawick-based textiles producer, founded in 1878, was hit by the effects of increased foreign competition coupled with the recession.

Blair Nimmo, head of restructuring for KPMG in Scotland, said: "This is a fantastic result for the company, staff, creditors and the town of Hawick.

"Peter Scott & Company is synonymous with quality clothing and the Borders region, so it is particularly pleasing to finalise this sale."

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