Historic firm Axminster Carpets in East Devon has confirmed it's gone into administration - with three-quarters of the staff losing their jobs.
300 have been made redundant - with the company blaming a sharp increase in raw material prices.
Administrators Duff and Phelps will run the firm and says it will continue to look for a buyer.
Deaths of man and woman in two counties being linked
Woman found dead in Torquay; man in Hampshire
Dawlish's black swan lose nests in floods
At least 10 eggs washed away
Trains cancelled as flood damage continues
Divers to inspect infrastructure
Torbay tourism facing pressures
Bay MP says tourist trade needs stability and help
What is the future of vulnerable but vital Slapton Line?
Millions of pounds have already been spent protecting the road
Reform win Brixham by-election
Very small turn out
