Silver lining: Sunset Lover founders raise $1 million to save 73-year-old Adelaide knitting mill

A 73-year-old Adelaide-based knitting mill has been given a second chance to keep its wheels turning after it was acquired this month by the founders of fashion powerhouse Sunset Lover after a 48-hour capital raising media campaign saw $1 million raised to save the Australian-owned and operated manufacturer.

Silver Fleece was established in 1951 by Tim Jovanovic, who came to Australia after the Second World War, and was sold in 2003 to Cathy Barton, who had worked for the mill for 20 years prior to purchasing it. 

The knitting mill, which makes everything onsite at its factory in Hindmarsh in South Australia, supplies schools, colleges, businesses, sporting clubs, and other organisations throughout Australia with ready-to-buy and made-to-order uniforms, clothing and accessory items.

However, the business entered administration last month, following a general meeting on June 26, 2024, resolving that the company be wound up.

The capital raise marks a potential comeback for the knitting mill, with Dean and Melanie Flintoft, who founded the sustainable brand Sunset Lover in 2021, securing the assets of Silver Fleece from liquidators on August 9.

As of Monday, Silver Fleece has resumed business under the new management and the Flintofts have confirmed that they will “immediately reassure all existing...