Scottish luxury knitwear brand Peter Scott & Company has been bought by duffle coat specialist Gloverall for an undisclosed sum.
The 130-year- old knitwear brand went into administration in May after sales were impacted by competition from overseas imports and a decline in international demand for luxury products.
Gloverall has acquired the business and assets of the company, which is based in Hawick in Scotland, and will retain its remaining employees. At the time of the administration, 119 out of its 140 staff were made redundant.
Gloverall director Samuel Lee said: “We are currently reviewing our intentions to recommence full production of Peter Scott & Company products in Hawick.”