Jobs saved with Manchester Hosiery sale
Hinckley-based knitwear manufacturer Manchester Hosiery has been sold out of administration to a Hong Kong company, rescuing 30 jobs.
Dains, the Midlands-based administrator of Manchester Hosiery, secured the undisclosed deal with Aikon International after it was appointed to review the company's financial position in April last year.
Manchester Hosiery, which has been trading for more than 100 years, specialises in the production of underwear for men, women and children.
In their capacity as joint administrators, Martin Smith and Nicki Hawksley continued to trade the business for nine months.
Aikon International, which supplies thermal and hosiery textile products, has taken over the business with immediate effect and has pledged to continue manufacturing from the company's Hinckley base.
The Hong Kong company said the acquisition of Manchester Hosiery brands including Palm, White Swan, Guardian and High Cross will play "a significant role" in assisting its expansion into Europe.
