BBC News has reported that Chanel has bought the Barrie Knitwear cashmere mill in the Scottish Borders, after the collapse of owner Dawson International. All 176 jobs in Hawick will be secure.
Barrie Knitwear was a trading division of Dawson International, which was placed in administration in August because of the size of its pension liabilities. Dawson will now be liquidated following the transfer of its only major asset.
It has not been disclosed how much Chanel paid for Barrie Knitwear.
Chanel fashion president Bruno Pavlovsky said: "The acquisition of Barrie business by Chanel is all the more natural as the factory has worked with us for more than 25 years, producing cashmere knitwear including Chanel's iconic two-tone cashmere cardigans.
"Through this acquisition, we reaffirm our commitment to traditional expertise and craftsmanship, and our wish to safeguard their future and support their development."
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