A sick knitwear firm, Peter Scott and Co Ltd from Hawick, UK, has made an announcement to its workers that, the company is nearing closure, as it has entered in to administration, with most likely a loss of 150 jobs.
The company had over 130 years of experience in the knitwear industry and was well reputed across the globe. With this sudden announcement of a firm that, had anticipated a bleak future for itself before several months, has left the region's textile industry in a lurch.
It was the biggest independently-owned knitwear producers in Scotland and had commenced operations as an innerwear producer, also known as Pesco, which had become very famous with time.
During May 2008, Peter Scott had also signed an agreement with golf legend, Colin Montgomerie, to develop an exclusive 'Colin Montgomerie' apparel range.
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