HUNDREDS of textile workers are facing an uncertain future after clothing maker William Baird admitted it is in talks over a possible £88m takeover offer.
The group said the discussions could lead to a recommended cash offer of 75p a share, after reports said Baird would be taken over this week in a buyout brokered by Harold Tillman, the rag-trade veteran, with funding by venture capital group Alchemy.
Speculation in the city was that the takeover could be complex, with Baird reversed into a small quoted menswear group, Marchpole, which designs and distributes menswear for clients including Yves Saint Laurent and Jasper Conran.
Baird still retains a warehousing operation in Hartlepool and a corporate clothing factory in Skelton, East Cleveland, employing around 300 workers.
Marchpole however poured cold water on the rumours, saying it was not in talks with Baird over any corporate transaction.
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