BusinessBusiness RecoveryDains sells Manchester Hosiery out of administration

Dains sells Manchester Hosiery out of administration

Administrators save 30 jobs as eight-month insolvency process ends at knitwear business

DAINS HAS SOLD Manchester Hosiery out of administration after eight months.

Administrators from Dains saved 30 jobs at the knitwear manufacturer following its sale to Aikon International.

Manchester Hosiery has been in existence for more than one hundred years, and specialises in underwear and outerwear garments.

The deal, for an undisclosed sum, sees Hong Kong-based Aikon take over the business. Aikon has pledged to continue manufacturing fro the Hinckley factory.

Dains director Andy Stevens praised the staff for their continued support throughout the administration.

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