Fears for 180 jobs as Hawick factory enters administration
Ally McGilvray • Published 15 Aug 2012 16:15
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DAWSON International, the cashmere-making company based in Hawick, has confirmed it has called in the administrators - putting 180 jobs at risk.
The move follows the build-up of a large hole in the company's pension fund.
Dawson, which makes cashmere garments, was once a leading presence in Scottish textiles, but has sold off parts, including Pringle knitwear. It continues to run the Barrie mill in Hawick.
However, last month the company's shares plunged after it announced that the pensions regulator and the Pension Protection Fund had rejected its attempt to put its pension plans into a protection fund.
Commenting on the development, chairman David Bolton said: "This is a sad day for Dawson International, and for British manufacturing. To see this 140-year-old company forced into administration due to the PPF's decision is deplorable, a direct consequence of a flawed process lacking in common sense and transparency.
"It is a bitterly disappointing outcome for all concerned, putting jobs at risk, securing less money to the PPF while increasing the burden to the taxpayer."
The Secretary of State for Scotland has urged Administrators to work quickly and decisively to secure the business for the future.
Local MP Michael Moore said: "The workforce at Barrie needs certainty as soon as possible so I hope administrators will move quickly and decisively." And he added: "As local MP, I will be working with the Administrators and company representatives to secure the right outcome for the company."
This article appeared in Border Telegraph 15 Aug 12
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