UK: Buyer found for Charnos owner Intimas Group
Lingerie firm Intimas Group Plc, whose brands include Charnos and Lepel, has been bought out of administration by textiles maker Linwood Fabrics Ltd.
The sale of a "significant part of the business," including the two brands, safeguards 55 jobs.
But it leaves the administrators reviewing the rest of its operations with redundancies likely amongst the remaining 150 staff.
Intimas designs and supplies ladies' intimate apparel including lingerie, nightwear and swimwear.
Based in Long Eaton, Nottingham, it also produces collections for major high street retailers as well as trading through a number of its own retail outlets located around the UK.
It called in the administrators in July following a period of difficult trading due to the slowdown in consumer spending and adverse movements in foreign exchange on imported goods.
"We are assessing the options as a matter of urgency with respect to those areas of the business which did not form part of this sale, and will continue to liaise with the relevant customers, suppliers and employees as to the options available to us and the timetable," said joint administrator Stuart Maddison.
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