Shares in Dawson International, the Hawick-based cashmere company, were suspended this morning as its directors consider whether they need to appoint administrators for the company.
The firm revealed last month that 200 jobs are under threat {http://www.scotsman.com/the-scotsman/business/cashmere-firm-in-crisis-after-regulator-rejects-pension-rescue-1-2422978|after talks with the Pension Protection Fund and Pension Regulator to rescue its pension fund collapsed|after talks with the Pension Protection Fund and Pension Regulator to rescue its pension fund collapsed}.
Dawson said: “Following conversations between the directors and the trustees of the UK defined benefit pension plans, the actuary of the plans has served notices of a determination of contribution jointly on the parent company and its UK trading subsidiary, Dawson International Trading.
“The directors of each company will consider these notices with their advisors to determine whether these notices are valid and whether it is necessary to appoint administrators for either or both companies.
“Pending this decision and therefore pending clarification of the parent company’s financial position, the directors have requested that the shares in Dawson International be suspended.”
But the directors said that “there is no intention to appoint administrators for the US knitwear business, Dawson Forte, which is well funded and continues to trade normally.”
