This forum was created in response to the editorial about Perseverance Mills filing "Chapter 11" (e.g., called "Going Concern" in the UK):

Perseverance Mills' Perseverance Loses Weight: Is the Pertex Dynasty Slipping Away?

Montane is a large buyer of Pertex fabrics and we therefore have good links in to the company. We have it on good authority from them that the bulk of the problems stem from the parent company's indebtedness. That company, Padiham Group, is a packaging company and not involved at all in fabrics. Pertex itself, is profitable,and has a full order book. At today's date Pertex have very many interested acquirers looking over the company. Montane is confident that Pertex will continue as a fabric brand, and we will continue to feature their excellent products in our ranges.

Jake Doxat
CEO - Montane

Perseverance Mills has been unable to find a buyer and will be closing in 2 to 6 weeks time.

Your terse comments about Perseverance Mills closing in 2-6 weeks make it sound like you have the inside scoop. That's a very big surprise.
I had been enjoying watching--and occasionally reaping the benefits of--the competition between Japanese and British textile makers. With Pertex out of the game, it looks like "advantage, Japan".

Edited by areality on 05/18/2005 14:50:12 MDT.

Pertex is is final negotiations with a new buyer and will announce the future direction of the company on Monday or so. All things point to the positive on this and it looks like Perseverance Mills and Pertex will live. This info was provided to me today straight from Perseverance Mills.
Ryan

Ryan,
are you 100 % sure of the positive outcome ? What I posted earlier was what I got from someone whos father works at Perseverance Mills. If what you say is true, probably a lot of people will keep there job but I don't want to raise fals hopes by pointing them to what you wrote.

Click here to buy your own Pertex dynasty!

maybe if we all pool our resources?

This is what I read this morning at ourdoorsmagic.com. The source is the son of an employee.

Well it is final. The factory is closing, the employees were called in today and told that they no longer have a job. If there is any company looking at buying the factory its going to happen after all the employees have lost their jobs.

Sad day.

It is true. After my, and the administrator's initial optimism, iyt has been confirmed there is no buyer. However, all is not lost for the apparel buyers of Pertex fabrics and end-users. Although manufacture will cease in the UK, the brand will continue and the know-how will transfer to aniother fabric producer. Hopefully there will be a seamless transition.

http://www.bikebiz.co.uk/daily-news/article.php?id=5635

I'm sad to hear that people are losing their jobs and hope they find something else quickly.

From a selfish point of view, I hope the technology will continue to be available as my Berghaus Extrem windproof jacket made from Pertex Equilibrium is the finest summer windproof/showerproof I have ever worn. Equilibrium is sensationally good. After three hours in driving rain and low cloud on Bleaklow/Margery Hill I remembered that my banknotes were unbagged, in the chest pocket. When checked, they were bone dry so I left them there for the next eight hours of rainy walking and they stayed dry. Quite unbelievable! Particularly as the waterproof over the Extrem jacket has seen better days and gets soggy in the rain.

Press release from pertex this morning, it's now official. I wish I could have said more in the interim of the rumor mills, but I'm happy to announce that pertex is alive and kickin.

--

PRESS RELEASE

‘NEW SUNRISE FOR PERTEX’

Following some weeks of speculation Mitsui & Co., Ltd (Mitsui) are pleased to announce their acquisition of the Pertex brand. Included in this are all rights to the brand names, Intellectual Property, Know-How and some key machinery formerly owned by Perseverance Mills Ltd.

Speaking from his office in Osaka, Japan, Mr Tetsuo Nonomura; Director & General Manager – Textile Division, stated that ’Mitsui is committed to the research and development of innovative textile technology for which Pertex has gained a worldwide reputation with products such as Pertex Quantum®, Pertex Equilibrium® and the Backpacker Magazine award winning Endurance technology’.

Mr Nonomura went on to say, ‘the transfer of Pertex® technology to our factories in Japan is well advanced and that the manufacturing equipment will be sited in lines dedicated to the production of Pertex® products’.

Mitsui have retained the services of Pertex® brand founder; Steve Laycock with responsibility for Marketing and New Product Direction.

Speaking from his UK office Steve said, ‘I am really pleased that Mitsui have the vision to take on the Pertex® brand and I’m excited by the prospect of working with Mitsui to develop new Pertex® technologies and to strengthen the brand at retail and consumer levels. Pertex® will continue to work with end-user groups to develop solution oriented textile technologies’.

Work has already begun to update the website and this will continue to be a valuable resource for breaking news about Pertex® products and activities.

Dr. J,

Thanks for the update & info. From various perspectives: a mixed bag.

From mine as a buyer/user: sunny
From the British workers (if i understood the concept of "transfer...to our factories in Japan" correctly): still dark and gloomy

Perhaps the one who needed a job the least, the "founder", is still employed - par for the course.

Sorry, this hits somewhat close to home, i.e. it's similar to foreign outsourcing - the company i work for leads the way in this area (though it doesn't affect me personally in my position). [sorry, just got out of a "Focus Meeting" here at work on "Cost vs. Quality" (i'm on lunch now). worker "bees" voted for "quality". upper level management seems to have cast its vote for, you guessed it, "cost". guess who will win?!!! gotta' keep the shareholders happy and stay in business!!]

At least we will still have the benefit of "quality" applied to these fine materials and products. The Japanese should easily be up to the task - as were the British.

Still great news for the American UL-er. Thanks again.

Edited by pj on 09/09/2005 11:20:20 MDT.