According to media reports today, Benny Hartop, Managing Director of Scottish Borders knitwear firm Hawick Knitwear has agreed to purchase the company from current owners Harris Watson. The buyout is said to have been welcomed by local politicians. Mr Hartop was not available for comment this afternoon.

Mr Hartop told BBC News South of Scotland it was an exciting time to be buying the business and said it would not affect the terms and conditions of the 200 staff at the company’s Hawick and Galashiels factories.

Roxburgh and Berwickshire MSP John Lamont is said to pleased to see such a "widely respected" figure take over. "The relative success of the company in the face of the recent economic difficulties is a testament to Benny's leadership and the hard work and enthusiasm of his staff," he told the BBC.

"Hawick Knitwear has a proud history in the town and an international reputation. I wish Benny and all the staff the best as they open this new and exciting chapter in the firm's history."

Mr Hartop said he was looking forward to the challenge of taking the company forward. "Competing against products manufactured in the Far East will always prove challenging for us," he said.

"But with the skills, enthusiasm and flexibility we have both in Hawick and Galashiels I am sure we will build on the success of the last two years."

Source: bbc.co.uk