Headen & Quarmby bought out of administration
UNDERWEAR manufacturer Headen & Quarmby – which makes the Kinky Knickers brand created by Mary Portas – has been bought out of administration by managing director David Moore.
Around 30 staff lost their jobs last month following the appointment of administrators from accountancy group BDO.
A poor Christmas and a lack of orders for this year was blamed for the company’s demise.
Mr Moore has bought the business through a vehicle called Headen & Quarmby (UK) and plans to restart production immediately.
The Middleton-based company was featured on the 2012 Channel 4 documentary Mary’s Bottom Line, where the retail guru sought to help revive British manufacturing.
Mr Moore said: “We have a strong underlying business and a full order book. We’re determined to rebuild a great British success story, thanks to the support of our staff, retailers, suppliers and Mary Portas.”
Mary Portas said: “I was so sorry to hear about the issues H&Q had in January. I’m thrilled they’ve had the confidence and the vision to re-build.”
Kerry Bailey, BDO business restructuring partner, said: “An extensive search was made to find the right buyer for the business and assets of Headen and Quarmby Limited. David and his team have the determination and expertise to take the business forward on a more secure financial footing, and we wish them the best of luck.”
Law firm Addleshaw Goddard advised BDO on the sale of the business to Mr Moore.
