East Devon was badly hit when Axminster Carpets went into administration putting 300 jobs at risk.
The new owners have taken back half the original staff and believe the town is now more optimistic for the future.
The former Mayor of Axminster Cllr Andrew Moulding spoke to ITV News West Country:
More top news
Dementia patients are being failed by health and social care services, say doctors in our region.
Fragrant, beautiful and more and more popular in soft drinks, this year's elderflower crop has been particularly good for our region.
It's not just visitors at Exmoor Zoo who've been tucking into ice lollies and cool drinks in the heat - check out these charming pictures