1. ITV Report

Historic Devon carpet maker Axminster Carpets goes into administration

The carpet maker had been trying to find buyers for the business. Credit: ITV News West Country

Axminster Carpets has collapsed into administration after weeks of trying to secure a rescue deal.

The 265-year-old firm, which supplied carpets to the Royal Family, has appointed Duff and Phelps as administrators.

Up to eighty employees have been made redundant as a result as the company goes into administration for the second time in seven years.

Administrators say no acceptable offer for the business has been received. Credit: ITV News West Country

The local and County Councils have both said they'll offer advice to workers faced with redundancy.

Duff and Phelps have also said a small number of employees will continue to work through the Company’s order book.

The factory shop will remain as its been sold to Wilton Carpets. Credit: ITV News West Country

Despite a number of expressions of interest no acceptable offer for the core carpet business has been received, leaving no option but to appoint administrators while the remaining options are explored.

The Administrators have had to come to the decision that the best possible option for maximising the realisations for the Company’s creditors was the immediate sale of its underlay business to Ulster Carpets and the redundancy of the majority of the existing workforce.

We are continuing to explore all potential options for all or part of the remaining business and assets including the historic brand name itself.

– Benjamin Wiles, Joint Administrator