300 jobs saved as family run firm is bought from administration

A total of 300 jobs have been saved after a Dewsbury wool firm was sold out of administration.

Business Advisors and turnaround specialists, Moorfields Advisory, have advised on the sale of wool spinner Lawton Yarns to Danspin A/S.

Family run business Lawton Yarns has been established for over 100 years originally dating back to 1902 and now supplies over 50 carpet manufacturers in the UK, Europe and other international locations.

Simon Thomas and Nick O’Reilly were appointed administrators and immediately completed a sale to Danspin A/S, a counterpart wool spinner.

The merger will protect the offering of natural wool products from competing synthetic products.

Simon Thomas, Partner, said “Lawton Yarns was acquired by Netherlands based group in October 2015 with operations in Belgium and Poland. Unfortunately the UK business suffered as a result of underperformance within the rest of the European group. Lawton Yarns has itself continued to trade profitably, representing an excellent turnaround opportunity. We received a lot of interest and are delighted to have found a buyer.”