Scottish textiles mill enters administration

| January 8, 2010 | 0 Comments
”Scottish

Borders-based JJ&HB Cashmere Mills, which employs 176 people, has been put into administration.

The Italian-owned firm, based in Innerleithen in the Borders, is one of Scotland’s oldest cashmere manufacturers and also has operations in Coatbridge and Galashiels.

However, there are hopes that a buyer can be found after joint administrator, James Stephen of BDO LLP, said there has been an “expression of interest” in buying the cashmere manufacturers.

Mr Stephen said that the firm was known for its “quality output” and would continue to trade while it tries to secure a buyer.

He added: “It is unfortunate that the economic climate and difficult trading conditions have significantly affected the retail sector.”

Meanwhile, local Liberal Democrat MSP Jeremy Purvis said: “The mill and the business is highly viable and the administrator has assured me that with strong order books and with the current assets that exist the business should be able to be sold as a strong entity and this is something that I strongly encourage.”

The firm was established as Ballantyne Cashmere in Innerleithen in the early 1920s but changed its name to JJ & HB 1788 Cashmere Mills Limited in October 2008.

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