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.
The company confirmed that the remaining 100 employees at Axminster will keep their jobs. The two outlet stores are also secure and have been transferred to the new company.
The Devon firm went into administration in March, leading to the loss of three hundred jobs.
The newly formed business, now called "Axminster Carpets (2013) Ltd" will involve many of the senior management team and will begin trading on Monday 8th April 2013.