New owner of business clothing company a novice
Martin Smith, the chief executive officer of fire safety company Firewatch Group, is the new owner of Vanter Ltd, a company that creates business clothes and other apparel. Incidentally, the new owner is a novice in the industry.
The previous owner of Vanter Ltd – Hugh Anderson, reportedly failed to find a new buyer of the company after he retired. This led Smith to go ahead and make the purchase himself, even though his current business has nothing to do with the apparel business.
Smith reasoned that he wants the manufacturing industry in United Kingdom to continue flourishing and that he doesn’t want the business to lose steam and give in to competitors overseas.
Smith said that the takeover helped save jobs. Vanter laid off 12 people when it closed last December. He added that the takeover means that about five jobs have been saved and that they are planning to get three more employees in the near future.