© Scott & Charters.

Management at a luxury knitwear manufacturing business in the Scottish Borders region, maintains the company still has a bright future despite its owners going into voluntary administration, the Southern Reporter says.

Hawick based Scott & Charters parent company WRA has called in administrators in order to restructure its business in the face of insurmountable financial problems. However, despite the shock decision, the 38-strong workforce at Scott and Charters should feel secure, its managing director Malcolm Grant told the newspaper.

News of WRA’s collapse came as a shock to Mr Grant, who only last November welcomed Prince Charles when he officially opened its new Fairhurst Drive factory. Mr Grant said: “Although the holding company is now in administration, Scott & Charters, and our sister company Chrysalis Clothing are not, and we are both continuing to operate as normal, manufacturing and shipping orders to our customers worldwide.”

“We have an excellent, strong order book, which has held up well through the Covid-19 lockdown, and which has grown with new orders since businesses have started to reopen, and we also have a good cashflow and we will continue to go forward to fulfil our obligations to all our customers.”

“It is frustrating and disappointing to have been advised of this voluntary administration, out of the blue, at such short notice, however, we will work with the joint administrators to find a successful resolution for Scott & Charters and all our employees that lets the business go forward and thrive for many years to come. We have an excellent company, and wonderful factory in which to work, and a superb workforce who deserve success and stability.”

Hawick and Denholm councillor Stuart Marshall told the Southern Reporter that he had also been reassured that the company, founded in 1955, could survive and even thrive. Mr Marshall, who worked in the textiles industry for 33 years, added: “As a ward councillor I’m keeping everything crossed that this very famous brand in high-quality knitwear and indeed its very highly skilled workforce, many of whom I know personally, will overcome this worrying situation.”

“The knitwear and textile industry within our town has overcome some really hard times throughout the years.

“Our history also tells us the industry has faced economic recessions and depressions and it has without doubt stood the test of time, mainly due to our town having such a highly skilled and flexible workforce.”

https://scottcharters.com

Read the original story