Administrators called in for Axminster Carpets
Axminster Carpets, which had been owned by a Bradford-based firm, has collapsed into administration despite trying to come up with a rescue deal.
The business has appointed Duff & Phelps as administrators. It is the second time the company has gone into administration in seven years.
In 2013, it was acquired by a consortium led by private investor Stephen Boyd.
About 80 staff at its Axminster factory in Devon have been made redundant, but a handful have been retained to complete orders.
When appointed on Wednesday, Duff & Phelps sold the Axminster Carpets underlay division, Axfelt, to Ulster Carpets. It also expects to sell the Axminster Carpet Shop to Wilton Flooring.
Axminster Carpets had been owned since 2016 by H Dawson Wool, which is a Bradford-based supplier to the wool carpet manufacturing industry.
The company has been run by managing director Jonathan Young for the last 18 months. But Sky News reports that last September, Young warned employees about impending job losses and offered voluntary redundancy.
Axminster’s origins date back to Thomas Whitty, who began making carpets and rugs in the town of Axminster in 1755.
The firm went out of business in the 1830s, but its methods were revived in 1937, when Harry Dutfield established the current company. Its first products were bought by people such as King George III and Queen Charlotte.
Today, the luxury carpets can be found at high profile locations including Clarence House, the Brighton Pavilion and Twickenham Stadium.
