Sportswear specialist goes into liquidation

A Preston sportswear company that supplied the British gymnastics team has gone into voluntary liquidation.

Milano Pro-Sport, based in Bow Lane in the city, has manufactured leotards for the team since 1996 and has been described as a leading supplier of gymnastics clothing in the UK.

The business, which began life in 1991, entered into voluntary liquidation this week following a review of its operations and financial position.

In a statement, its majority shareholder, AIM-listed investment business CEPS, said: “The board of Milano has concluded that it is no longer commercially viable for the company to continue trading.”

Business recovery expert Moorfields Advisory has been appointed to help place the company into creditor’s voluntary liquidation (CVL) and is inviting offers for Milano’s assets.

In the year ended December 31, 2025, Milano achieved turnover of £1.85m and made a loss before tax of £156,571.

Milano is fully owned by Milano International Holdings, which is 90 per cent owned by Signature Fabrics. CEPC holds a 67.5 per cent interest in Signature Fabrics.

On its website Milano boasts of providing leotards and gymnastics apparel for gymnasts and gymnastics teams worldwide.

Further updates on the company's status are expected in the coming days. Anyone interested in the business or its assets is being advised to contact Moorfields for more information.

In 2023 Milano earned a seal of approval at the highest level by partnering with The Federation Internationale de Gymnastique (FIG).

Lancashire Business View reported at the time that Milano had been the official leotard supplier to events such as the World Gymnastics Championship 2022, which

took place in Liverpool, and supplied top gymnasts such as Jessica and Jennifer Gadirova, Alice Kinsella, Halle Hilton, Comfort Yeates and Kelly Simm.

The new agreement was said to have positioned the firm as the international governing body’s leotard supplier of choice.

Milano said that the deal represented “just the beginning of an amazing journey” and that the association would open up avenues to further growth through increased brand visibility, expanded marketing opportunities and strengthened relationships with gymnasts, coaches and fans around the world.

David Kaitiff, the company's chief executive at the time, said: “Being aligned with the global custodians of gymnastics is a privilege and an honour. We’re delighted and proud to be part of this new and exciting opportunity.”