Pringle of Scotland has received a near GBP11m (US$17.5m) cash bailout from its owners after reporting its fifth annual loss, according to reports.

The brand reported pre-tax losses of GBP7.29m for the year to 29 January 2011, The Sunday Times reported. The accounts also reveal that Pringle received GBP5m of funding from parent company Fang Brothers Holding and a GBP5.9m injection since the year end.

The company said the losses were a result of investment in the long-term development of the Pringle brand and business on a global basis.