Axminster Carpets job losses

Hundreds of workers at Axminster Carpets have today been coming to terms with the fact they've lost their jobs. Administrators announced yesterday that three quarters of the workforce were being made redundant.

Production continued today at the Axminster factory, but the yarn spinning mill at Buckfast has shut down completely. This morning workers met up for a meeting outside the locked gates. Our Business Correspondent Seth Conway reports.

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Axminster Carpets rescue deal

A rescue deal has been done to save Axminster Carpets from collapse. A consortium, including Centric Commercial Finance Ltd and led by private investor Stephen Boyd, has taken over the business from administrators.