Axminster Carpets goes bust
hopes to secure "a rescue deal and a sustainable future for the Axminster Carpets business which remains important for the local town, employees, customers and suppliers.
"Our key focus remains on ensuring a sustainable future for Axminster Carpets, a proud business that has achieved centuries of expertise and multi-generational skilled employment for Axminster. We are encouraged by the investment into Axminster from other industry leaders. We hope to secure a long term sustainable future for weaving in the town and retaining Axminster’s from Axminster for many years to come."
Benjamin Wiles, an administrator from Duff & Phelps, says: “Despite a number of expressions of interest no acceptable offer for the core carpet business has been received, leaving no option but to appoint administrators while the remaining options are explored. The administrators have had to come to the decision that the best possible option for maximising the realisations for the company’s creditors was the immediate sale of its underlay business to Ulster Carpets and the redundancy of the majority of the existing workforce. We are continuing to explore all potential options for all or part of the remaining business and assets including the historic brand name itself.”