Carpet maker Axminster on brink of failure

 
Kasmira Jefford
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AXMINSTER Carpets, the historic manufacturer that has woven carpets and rugs for Britain’s stately homes since the eighteenth century, has filed for administration.

The Devon-based company, which employs around 400 people, confirmed its intention to appoint Duff & Phelps as administrators.

It said it would continue to trade while it explores all potential restructuring operations.

Company 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.”

The company was founded in Axminster in 1755 by weaver Thomas Whitty, who was inspired by the Turkish style of making carpets. His carpets could be found in Chatsworth House and Brighton Pavilion and were bought by King George III and Queen Charlotte, who visited the factory.

In modern times, the company has supplied carpets to high street retailers including John Lewis and Carpetright.

Axminster is the latest in a string of companies to collapse this year including Jessops and HMV.