Thursday, January 20, 2022

Ness acquired by Kiltane, saving 4 stores & 35 jobs

Property group Kiltane has purchased four Ness shops, saving the retailer from total collapse.

Ness first went into administration last December, when it operated 15 stores in Scotland and England, four concessions, and employed 105 people.

Administrators BDO were appointed due to financial difficulties, and this week Kiltane agreed to buy four Ness stores in York, Keswick and two in Edinburgh.

It has also acquired the brand, the wholesale and e-commerce divisions of the company.

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The deal means 35 Ness jobs have been safeguarded.

Kiltane, which is also a retail group and employs 75 staff at its stores across Edinburgh, said the move reinforced its position as a specialist in cashmere, fine woollens and Scottish tweed, while improving its geographical reach.

“The addition of Ness to our existing stores builds considerably on our business infrastructure and capabilities, both in retail outlets in prime locations and online,” managing director Mark Keane said.

“It also safeguards the jobs and skill sets of a very experienced and talented retail team while consolidating our position for future growth.

“We’re very confident that the deal will deliver major value to the group in the years ahead because the Ness brand offers a strong fit for us and complements the existing brands and concessions that we work with.”

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