William Baird, the clothing and retail manufacturer, yesterday lost its court battle to win £53m damages against Marks & Spencer for terminating a 30-year supply agreement.
The termination has led the company to lay off 4,500 workers and close 16 factories in Wales, Scotland and the Midlands. Further closures are likely in Sri Lanka.
Financial Times 30/06/01 page 12
Daily Telegraph 30/06/01 page 28,The Guardian 30/06/01 page 26
