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Axminster Carpets set for administration
1:48pm Wednesday 20th February 2013 in News
BOSSES at the historic Axminster Carpets company have announced today that they are set to go into administration.
A statement released from the Axminster-based company says that it would continue to trade while it explored all "potential rescue and restrucuturing" options.
The company’s board of directors confirms that a notice of intention to appoint administrators has been filed with respect to the company.
The notice was filed in order to provide the company and its creditors with a moratorium period during which the various rescue options being explored can continue.
The notice of intention to appoint administrators nominates Benjamin Wiles, Geoff Bouchier and David Whitehouse, of Duff & Phelps, as Joint Administrators.
The company’s 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 origins of Axminster Carpets dates back to 1755 when Thomas Whitty began making carpets in the town.
This original Axminster carpet could be found in Chatsworth House and Brighton Pavilion as well as being bought by King George III and QUeen Charlotte, who visited the factory.