Pringle Receives Million-Pound Bailout

MissMakDesigns
designer leather bags
designer leather goods
luxury handbags
luxury leather bags
luxury leather goods fashion handbags
fashion handbags

PRINGLE OF SCOTLAND‘s owners have injected a £10.3 million investment into the knitwear brand, following another year of ailing sales. In 2012, the company suffered a loss of £6.3 million – an improvement on the £9.5 million loss posted in 2011.

“The directors are not expecting to report operating profits in the short term, but are satisfied that the development of the brand and of the business are progressing in line with their long-term strategic objectives,” said Pringle chairman Douglas Fang.

The label plans to expand overseas to help combat losses, the Guardian reports. This isn’t the first time that Pringle has received a bailout – in November 2011, its owners ploughed nearly £11 million into the brand after it posted losses of £7.25 million from January 2010 to 2011.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s