Buzz People

Carpet maker seeks rescue deal

Axminster Carpets is in rescue talks with potential buyers, as first reported by Sky News.
The 265-year-old royal warrant holder filed a notice of intention to appoint administrators on Wednesday.
Jonathan Young, its managing director, said he was "encouraged by the level of interest in investing in our brand".
Administrators Duff and Phelps are on standby as the company tries to avoid collapsing for the second time in seven years.
Up to 90 jobs are thought to be at risk in Devon if the company enters administration.
Mr Young also said that working on a "sustainable future" for the company was "important for the local town, our employees, suppliers and customers who value the quality of craftmanship".
A controlling stake in the historic carpet maker was bought by a Yorkshire-based wool supplier in 2016.

https://www.bbc.co.uk/news/business-51391765#
Register Now