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A Small Company with a Big Future Thanks To New Buyers

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PRESS RELEASE

Pearson Hinchliffe acted for the purchaser.

A traditional textile dyeing and finishing business in Hyde has been saved from closure and 14 jobs safeguarded thanks to new buyers stepping in.

The company, Shirley Dyeing and Finishing Limited, based at Newton Business Park, Talbot Road, Hyde, has been bought out of administration by local entrepreneurs Gabriele and Chris Shaw. 

Commenting on the purchase, new owner, Mrs Shaw, said:  “Steve Hartley and his team at Pearson Hinchliffe Commercial Law worked tirelessly and efficiently to get the job done and this has resulted in local jobs being saved in a traditional business. We value the guidance and advice we received and now look to the future and nurturing Shirley Dyeing and Finishing Ltd to service the needs of its nationwide customer base.”

Over the past two decades the Cheshire textile company has provided all aspects of dyeing and finishing for fabrics in commercial use, as well as working as a partner in the development of processes for new fibres and fabrics.  Its customers are some of the largest fabric manufacturers in Europe and it processes a wide range of fabrics, from silks through to heavy belting fabrics. 

A team from Pearson Hinchliffe Commercial Law led by Steve Hartley, Head of Company Commercial, acted on behalf of Mr and Mrs Shaw on the acquisition.

Steve Hartley, said:  “It’s always gratifying when jobs are saved and a traditional industry gets a new lease of life.  The Company has an excellent workforce and good reputation, it is flexible and I see no reason why it cannot move on from strength to strength under the guidance of its new owners.” 

The textile business was bought out of administration from the Joint Administrators, David Wilson and Julian Pitts of Begbies Traynor. Lupton Fawcett Lee & Priestley Solicitors, Leeds, acted for the Joint Administrators in respect of the sale of the business. 

David Wilson of Begbies Traynor added:  “This is the best possible outcome in the circumstances enabling of the region’s few remaining textile businesses to continue to trade and securing the jobs of its workforce.”

 

Please note that the information and opinions contained in this article are not intended to be comprehensive, nor to provide legal advice. No responsibility for its accuracy or correctness is assumed by Pearson Solicitors and Financial Advisers Ltd or any of its members or employees. Professional legal advice should be obtained before taking, or refraining from taking, any action as a result of this article.

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