UK: Portas knickers firm bought out of administration
Headen & Quarmby made underwear for Portas' Kinky Knickers brand
Headen & Quarmby, the underwear manufacturer behind the Kinky Knickers range launched by British TV presenter Mary Portas, has been bought out of administration.
Former managing director David Moore has acquired the business and assets of the Lancashire-based company, with the view of kick-starting production as soon as possible.
Headen & Quarmby produced clothing for a number of high street chains, including House of Fraser and Asos.
The move comes a month after a drop in post-Christmas orders and a decline in sales volumes forced the business to close and call in the administrators, making 33 workers redundant.
"We have a strong underlying business and a full order book," Moore said. "We're determined to rebuild a great British success story, thanks to the support of our staff, retailers, suppliers and Mary Portas."
While Kerry Bailey, BDO business restructuring partner, added: "David and his team have the determination and expertise to take the business forward on a more secure financial footing, and we wish them the best of luck."
It is not yet known how many jobs have been saved as a result of the deal.
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