UK: Galey & Lord Sells Klopman To European Investors
The deal, which is expected to be completed within 60 days pending regulatory approvals, will see Klopman move from its parent company Galey & Lord to a group of European financial investors that includes MPS Venture and Klopman senior management.
In a statement, Klopman says the "landmark" sale will provide increased opportunity to build on its position "as Europe's leading supplier of polyester/cotton blended fabrics."
The new owners say they are fully confident in the existing management and employees of the company, adding that the company's structure and management will remain unaltered.
Textiles manufacturer Galey & Lord Inc filed for Chapter 11 bankruptcy protection in February 2002.
Help test our new apparel sourcing tool.
- US apparel sector braces for potential cost hikes
- Does a hard Brexit mean hard times for UK fashion?
- Trade Tracker – Trump's first weeks, Brexit agenda
- Key trade issues facing US textiles and apparel
- Primark challenges critics with cotton initiative
- Li & Fung dropped from Hang Seng Index
- Bangladesh "high threat" for terrorist activity
- Vietnam apparel exports miss 2016 target
- Trump talks of tweaking NAFTA trade with Canada
- H&M leads Better Cotton league
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022