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DESSEILLES LACES: Chinese bidder is successful

THE RIGHT to acquire failed Leavers lace maker Desseilles Laces was finally won by Chinese concern Yongshen. The winning bid was supported by a commitment to maintain 60 of the current 74 jobs for at least thee years and to invest EUR 4m in the business over the coming two years. The Chinese company also bid to acquire another failed Leavers lace maker, Codentel, but a decision will not be handed down until 7 April.

Desseilles Laces

Desseilles Laces

The deal raises a major question mark: at the end of the period covered by a commitment, the Leavers looms could be relocated in China and operated at appreciably lower cost by local labour.

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