A HISTORIC Borders company is aiming to protect its future by moving into the luxury clothing market – and local MP Calum Kerr has pledged to do what he can to help.
 
The Peter Scott Knitwear factory in Hawick plans to secure its future and its workforce in the town by moving into the lucrative Scottish cashmere market.
 
The firm – famous for its quality knitwear products, particularly for the golf market - has had to announce a restructuring process which may result in a number of people becoming redundant.
 
But Berwickshire, Roxburgh and Selkirk MP Mr Kerr has been told by the company boss that it has now put together a detailed recovery plan which concentrates more on luxury and will aim at high end retail outlets.
 
Peter Scott have also categorically dismissed local rumours that the firm intend to pull out of Hawick.
 
“They’ve assured me that they’re very proud indeed of their Scottish and Borders provenance and have absolutely no plans to close their manufacturing facility here,” Mr Kerr added.
 
“They explained during a face-to-face meeting that they need to create a strong and profitable structure by diversifying from a very competitive market and they are aiming to put more of a focus on luxury.
 
“The hard truth is that in order to protect the company in the longer term, tough business decisions are having to be made now, including a number of redundancies.
 
“I realise just how tough that is for the people involved, especially at this time of the year, and I’d be happy to talk to them about any help and support which may be available.
 
“Making people redundant is certainly not something the company would have wished to do, but it does have to look ahead and take action to secure its future.
 
“I’m very keen to support the management where I can as they undertake a realignment of their business. It will help their journey to becoming a fashionable, contemporary operation with a fantastic Borders history, tradition and heritage and a great brand name.”
 
And Daniel Kim, the company’s Managing Director, said: “We’re working to establish a core profitable business which we can then grow. By going through this restructuring, we will enable the company to continue operations and create a firm platform for expansion.”
 
Peter Scotts has a long history in the Borders. It was bought five years ago by a Korean parent, E.land group, which had a turnover last year of $11 billion.
 
It sees Scottish and British products as iconic and says its biggest selling feature is its Made In Scotland tag.