UK: Carpet maker Axminster set to go into administration
- Credit: PA
Historic carpet maker Axminster is to go into administration in a move putting 400 jobs at risk.
The Devon-based company, which dates back 250 years, said the decision will provide the company and its creditors with time to explore various rescue options.
Director Joshua Dutfield said: “Trading has been difficult and the management has been working with key suppliers, creditors and the lenders in an attempt to resolve the company’s financial difficulties.
“We continue to be committed to working to achieve the best possible outcome for all concerned and most importantly the staff and suppliers.”
The company’s board of directors has confirmed that a notice of intention to appoint administrators has been filed, and Benjamin Wiles, Geoff Bouchier and David Whitehouse of Duff & Phelps have been nominated as joint administrators.
You may also want to watch:
The firm is continuing to trade while it explores potential rescue or restructuring options.
- 1 'Beautiful inside and out': Tragedy as mum dies 48 hours after giving birth
- 2 Ipswich Town reveal full retained list as six first-teamers get extended stays and eight depart
- 3 Jeffers set for Ipswich Town coaching role
- 4 'The manager has to impose his will... we'll give him the resources to do that' - Detmer on Cook's transfer funds
- 5 'The honour of my life' - Chambers' message to Town fans after departure confirmed
- 6 Armed police box in cars on A12 after men seen 'fighting with swords'
- 7 Exit Interview: Farewell to Ipswich Town's most iconic player of the last decade
- 8 Delays continue on A12 after lorry rolls in crash
- 9 Former judge's widow on trial for sex abuse of young boy in 1980s
- 10 Woman taken to hospital after being hit by car