Consortium saves Axminster Carpets
- Credit: Archant
Around 100 jobs safeguarded at historic firm which will continue to manufacture its world-famous floor coverings in the town
Axminster Carpets has been bought by a local businesses consortium - securing its future and safeguarding 100 local jobs.
A spokesman for the administrators said the company had been sold as a going concern and would continue to operate from its current site.
Benjamin Wiles, of Duff & Phelps, said: “We are absolutely delighted to be able to announce that we have secured the future of Axminster Carpets, one of the best known British brands, following the successful sale of the business and assets of the Company to Axminster Carpets (2013) Limited.
“Under the terms of the deal the manufacturing operations located at Axminster manufacturing site, the factory outlets stores in both Axminster and Buckfast have been sold to Axminster Carpets (2013) Limited.
“The employment of the remaining 100 employees at Axminster and the two outlet stores are secure and have been transferred to the new company.”
Axminster Carpets (2013) Limited is backed by a local business consortium including former managing director of Axminster Carpets Limited, Joshua Dutfield.
- 1 A375 roadworks to restart in September
- 2 'Leave our banners alone!'
- 3 Urgent appeal for collectors as Sidmouth Airshow approaches
- 4 Otterhayes home rated 'good' after improving 'in leaps and bounds'
- 5 Jeeves and Wooster play was 'perfect nonsense'
- 6 National Trust Supporters' Group outing
- 7 Body of woman found near Sidmouth
- 8 Decision on Straitgate's appeal funding deferred
- 9 Photos: Sidmouth's latest cliff collapses caught on camera
- 10 Ottery St Mary - a shopping paradise
Axminster Carpets (2013) Limited will continue to operate from its head office and manufacturing facility in Axminster.
Joshua Dutfield, said: “We are delighted to have secured the future of the Axminster brand. We have been truly overwhelmed by the support received from the residents of the town of Axminster in our endeavours to secure the future of the business. We would like to thank everyone for their continued support.”
Mr Wiles added: “It is a great result to secure the continuance for such an iconic name. I believe we have secured the best possible outcome for the local region and most importantly the staff. From the outset we recognised the importance of the business to the local community and we worked closely with management and all key stakeholders to restructure the business and secure its future.”
* The name Axminster Carpets (2013) Limited has been registered by Somerset businessman Stephen David Boyd, a company director, aged 64, of Cossington, Bridgwater.
Several attempts by The Herald to contact Mr Boyd have failed but it is understood he is the former chief executive of British Cellophane and currently non executive chairman of Swallowfields PLC in Wellington – makers of aerosol products - and chairman of Pittards, manufacturers of leather products, of Yeovil.