A PLANNED merger involving one of East Lancashire's biggest employers has moved a step

closer.

Entrepreneur Trevor Hemmings, who owns a 71 per cent stake in Nelson-based John Wilman Ltd, which operates Coloroll in Nelson and John Wilman Textiles in Burnley, has increased his bid for Cheshire-based Vymura to £28.96 million.

His original bid was rejected by the Vymura board but the latest one has been recommended to shareholders by directors of the Cheshire firm.

If the deal does go through, it is expected the Vymura business and Coloroll operation in Nelson would be merged to save costs.

Coloroll managing director Barry Forester, has said it is too early to say what impact it would have on employment.

The bid comes just weeks after John Wilman, the East Lancashire businessman who brought the Coloroll name back from the ashes after it collapsed in the 1980s, relinquished his full time role as design director of the firm and moved to Spain.

He still retains a 20 per cent shareholding in the business and remains its part time deputy chairman.

The British Linen Bank has made the offer for Vymura on behalf of Gleadway, which is a new firm owned by Mr Hemmings' Jersey-registered company Newby Manor.

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