Sportswear fabrics and velvet specialist, SAIC-Velcorex  – formerly DMC Tissus – whose liquidation was ordered by a commercial court in April, is to return to trading with 50 staff compared to 135 previously.

The court has now ordered that the company’s plant in Saint-Amarin, in eastern France, be transferred to Pierre Schmitt, the co-founder and director of local fabrics firm, Philéa Textiles. The workforce could increase to around 100 over the next two to three years according to the takeover plans submitted.

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Founded in 1928, SAIC-Velcorex was acquired by Bernard Krief Consulting in August 2008, the company having been in administration since May of that year.  It was placed under court protection for a second time in January 2010.

Rescue specialist Bernard Krief took over DMC in January 2009 after it too had entered administration.