Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Final fitting for Chamberlain Phipps

Thursday 15 May 1997 18:02 EDT
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

The sale of the last part of Chamberlain Phipps, the shoes and materials maker which went bust last August, was completed by receivers Arthur Andersen yesterday via a management buy-in. The last sale saved 250 jobs in the UK. Receivers had already sold the footwear subsidiaries in the UK, US and Canada. Yesterday they sold the specialist materials business based in Leicester, Hong Kong, India and Canada to John Fallon and the rest of the existing management team for a "significant sum."

Murdoch McKillop said the complex international rescue operation had been completed with only 10 per cent redundancies. TSB Commercial is supplying pounds 2m in working capital to the new company, Chamberlain Phipps Commercial, which has plants in the Midlands, Yoevil and overseas.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in