LEEDS Group has written off the value of its investment in Dawson International which has gone into administration.

The textile business has a 29% stake in Dawson International which was valued in its last accounts at £745,000.

In writing off the stake's value Leeds has effectively reduce the value of its overall assets by just under 6%.

Cashmere clothing manufacturer Dawson International appointed administrators on Thursday as the company struggled under the weight of its pensions obligations.

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