UK: Coats Sells Jaeger, Viyella Fashion Brands
Thread manufacturer Coats Plc on Thursday announced it has sold its loss-making Jaeger and Viyella fashion brands to entrepreneur Richard Thompson for a nominal sum. The company said it expects to book an exceptional charge of £38 million in fiscal 2003 for the disposal of the brands and 250 stores which were put up for sale last September as the firm looks to focus on its core threads business.
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