WELLINGTON firm Pritex, based at Station Mills, is up for sale – but its boss has assured the 240-strong workforce the company has ‘a long future’.

Pritex and sister company Relyon were caught up in an accounting scandal at South African parent company Steinhoff International at the end of last year.

It resulted in Pepkor Europe, owned by Steinhoff, arranging a two-year, £180 million loan which allowed planned investment into the manufacturing and retail side of its businesses to be maintained.

The South African parent is facing criminal and tax investigations relating to an estimated £5.3 billion hole in its accounts.

Alan Chapman, managing director of Steinhoff UK Manufacturing Group, issued the following statement to the WWN this week. He said: “Following the unexpected events with our South African parent company Steinhoff International at the end of last year, I can confirm that we have notified all employees that we have started a process to market the Pritex business for a potential sale.

“In the last few months the board and Pritex’s shareholders have been in discussions about the next steps in the development of the Pritex business, and they believe that the timing is right to conduct conduct this exercise.

“I see exciting opportunities for Pritex to grow into other manufacturing sectors and into broader regional markets, particularly the European Union. That growth should provide job opportunities and ensure the continued success of our business in Wellington."

For the full story see this week’s Wellington Weekly News.