AXMINSTER Carpets appointed administrators yesterday, and said 300 staff – three-quarters of the firm’s workforce – would lose jobs.
The Devon-based company, which dates back to 1755, said high material prices and poor economic conditions had forced it to call in Duff & Phelps.
Around 100 employees will be retained as the company scales back operations at its bases in Axminster and Buckfast. The firm is understood to be confident that a buyer can be found.
Axminster had applied to enter administration last month.