Northampton-based Original Duffle Coat brand Gloverall Plc announce the acquisition of the business and assets of Scottish (Hawick) textile firm Peter Scott & Company Ltd.

www.gloverall.com

Peter Scott, renowned around the world for its quality knitwear, have been manufacturing in Hawick since 1878.

Recent financial difficulties, due to the effects of economic crisis and increased foreign competition, meant the 130 year old textile firm’s directors had to call in administrators KPMG at the end of May this year and just 21 out of the 140 workers stayed in their posts.

Blair Nimmo, Head of Restructuring for KPMG in Scotland, said the acquisition "is a fantastic result for creditors, the company, staff, 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.”

Samuel Lee, Gloverall director, said: “Gloverall plc is delighted to acquire a company 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.”