UK: Courtaulds Puts Lyle & Scott Back On The Market
Courtaulds, a major supplier to Marks & Spencer, announced last week that it is to sell off Lyle & Scott, the knitwear and leisurewear company.Mr Robert Kimpton, managing director of Lyle & Scott, said he was confident that no jobs would be lost. "We are selling both manufacturing and brand assets. One would be optimistic that anyone buying the company would take Lyle & Scott as it stands."The Scottish-based manufacturer, which has been part of the Courtaulds Textiles Group since 1967, was first put up for sale in November 1999 when it became clear that US monolith Sara Lee was making a hostile move on Courtaulds. In March however, the company was taken off the market and Courtaulds was bought two months later by Sara Lee Corp for around £150m ($226.9m).Mr Kimpton said that a number of companies had shown interest in buying Lyle & Scott when it had first been put on the market, but the company's fate remains unclear at the moment.The Lyle & Scott sale comes just one month after Courtaulds Knitwear slashed 612 jobs in factories in central England. The company blamed severe price pressures, which were adversely affecting profitability.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- Outlook 2017 – What next for apparel sourcing?
- $1.7bn package to boost Pakistan clothing exports
- Mexico riots hit apparel retailers and shipments
- M&S clothing growth – What the analysts say
- Is China about to burst its apparel trade bubble?
- MAS Holdings planning second industrial park
- Cambodia clothing exports at risk from Brexit
- Aéropostale to reopen 500 stores across the US
- JC Penney latest retailer to shutter stores?
- Target leads funding for mobile quality inspection
- Global apparel markets: product developments and innovations, October 2016
- Anti-odour clothing: fresh fashion for an active lifestyle
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar