MELBOURNE: Scallywags’ assets have been snapped up by three local textile businesses as the sock and hosiery stalwart inches closer to closure.
Wilderness Wear and 3 Peaks managing director Philip Endersbee confirmed that he, along with Kayser lingerie owner Simon de Winter and textile equipment distribution company Ramsay McDonald, had each acquired components of the Scallywags portfolio.
“We took out the assets that related to their branded program, Simon came in and took out the assets that related to their import program to see if he can maintain the continuity of supply with the likes of Kmart, and then Ramsay McDonald took the balance of the machinery and responsibility for everything left at the plant from a machinery perspective,” Endersbee said.
“As far as the debtors and creditors and the shell of the company, that’s still with the previous owners to wind their way through.”
For more information pick up a copy of Ragtrader's June 4 issue.