Jack Brodie Ltd, a Yorkshire-based cashmere specialist and Pima cotton and cashmere specialist The Edinburgh Knitwear Company Ltd have been acquired via a pre-pack deal from administrators at Interpath Advisory. These two businesses were sold to Jamm Logistics, an entity with common directors and shareholders. Jamm will be renamed as Brodie Cashmere, a trading style of Jack Brodie Ltd, and is expected to continue to design cashmere garments in the UK and import finished products from China and Mongolia for supply to independent boutiques. The business had also developed a direct-to-consumer operation which is also expected to continue.
The business fell into administration on April 19th with Interpath Advisory managing directors Rick Harrison and Howard Smith appointed as joint administrators. The administrators said that there had been significant growth in recent years prompting the management to invest in more stock to meet demand, but that more recently there was more pressure on working capital and this led to the administrators being appointed.
A separate deal saw a related business Pennine (London) Ltd sold to a Belgian outdoor clothing business called Amitex by the administrators.
Rick Harrison, managing director, Interpath Advisory said: “We’re pleased to have concluded these two transactions which will enable these long-established fine knitwear businesses to trade.” Howard Smith, managing director, Interpath Advisory added: “We’re particularly pleased to have been able to safeguard the jobs of all employeed and wish them, and the respective management teams, all the best for the future.”
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