A Paris commercial court has accepted a takeover bid from business rescue specialist Bernard Krief Consulting for French thread manufacturer DMC SA, which has been in administration for a number of months.

The takeover bid makes provision to preserve 245 out of 382 jobs in France and 86 jobs abroad.

In addition to thread-making, there also plans for the company to diversify into clothing and household textiles.

In August last year, Bernard Krief acquired DMC Tissus, the fabrics arm of the DMC group, in association with Pakistani textiles group Kohinoor.

By Stuart Todd.