UK: Indian textile group S Kumars buys Internacionale?
Indian textile company S Kumars Nationwide has been identified as the buyer of fashion chain Internacionale, which was put up for sale after its parent collapsed earlier this year.
S Kumars Nationwide, based in Mumbai, bought the firm for an undisclosed price according to The Herald newspaper, in a move that has saved almost 900 jobs.
The firm also owns cashmere maker Reid & Taylor, which it bought in 1997.
Ossian Retail Group, which owned Internacionale and its sister company Au Naturale, sold its GBP25m (US$49.8m) debt to investment company Agilo last month amid rumours the group was to be broken up.
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