William Baird is closing three of the company’s 34 UK factories over the next 18 months. The supplier of clothes to Marks & Spencer will move production to the Philippines and Sri Lanka.
It plans to sell off peripheral parts of the business and smaller brands such as Berketex.
The shake-up is expected to wipe out the company’s 1996 profits. The group turned in pre-tax profits of £5.1m to the end of June against £8.4m last year.
- The Guardian 25/10/96 page 24
- The Independent 25/10/96 page 22, page 25 (The Investment Column)
- The Daily Telegraph 25/10/96, page 33 page 39 (Questor)
- The Times 25/10/96 page 27
- Financial Times 25/10/96 page 25
