66 jobs at risk as carpet group restructures

Manufacturing group Victoria is to consult on the loss of 66 jobs after it revealed plans to move work from its Kidderminster factory.

The stock market-listed group said the changes were a result of “rapid growth and continued significant demand for its products” and would allow it to increase production capacity.

Manufacturing currently done at Kidderminster would be transferred to its two other UK carpet factories, while its current Midlands distribution centre will be relocated into Kidderminster.

Victoria’s executive chairman Geoff Wilding said the reorganisation would enable the company to “continue to grow” its earnings per share.

“We have done this before, of course,” he said. “Shareholders will no doubt recall our manufacturing rationalisation in Australia in 2014, which was highly successful with resultant revenue growth and improvement in margins that have been very pleasing.”

Victoria also plans to open a southern distribution centre to the North West of London by late 2018, servicing all of the Group’s brands, followed by an additional distribution centre in the North of England.

Wilding added: “Additionally, we remain confident that further significant earnings-accretive acquisition growth, in addition to underlying organic development, can be achieved to create further shareholder value.”