NATIONAL: The repercussions of Pacific Brands' move offshore are still being felt by local manufacturers, with Genevieve Yarn Dyers placed in voluntary administration in the wake of a trading slump.
Pacific Brands accounted for more than 50 per cent of the company's overall business, with another 15 to 20 per cent sourced from now collapsed group Melba Industries.
Genevieve provided services for Holeproof Socks, before parent company Pacific Brands moved production offshore earlier this year. Genevieve was unable to secure fresh contracts in the local market and saw its production sliced by more than half in August.
The company was founded in 2000 by Mike Fisher and Sean Keeton. It is expected staff will be retained for the next month to honour existing orders.
Administrators Scott Partners Consulting are optimistic a buyer for the company or its machinery can be secured.