Queen’s carpet-maker Axminster Carpets goes into administration for second time in seven years
AXMINSTER Carpets has gone into administration for the second time in seven years. But in 2018, the firm made a loss before tax of nearly £1 million on top of a loss of almost £3million in 2017. The 265-year-old firm, a supplier to the royals, failed to secure an acceptable rescue offer. About 80 staff […]
AXMINSTER Carpets has gone into administration for the second time in seven years.
But in 2018, the firm made a loss before tax of nearly £1 million on top of a loss of almost £3million in 2017.
The 265-year-old firm, a supplier to the royals, failed to secure an acceptable rescue offer.
About 80 staff have been laid off at its Devon HQ. Some will stay to complete orders.
The business, which was founded in 1755 in the market town of Axminster, specialises in the manufacture of woven carpets using traditional techniques and natural materials.
It is the second time the company has gone into administration in seven years.
Benjamin Wiles, of administrator Duff & Phelps said: “Despite expressions of interest no acceptable offer has been received for the core business.”
Options including selling the brand name are being explored.
Axminster made a loss before tax of nearly £1million in 2018 and a £3million loss in 2017.
The first carpets were bought by the likes of King George III and Queen Charlotte, who visited the factory.
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The family firm’s hand-woven carpets can be found at Buckingham Palace, Brighton Pavilion and Twickenham Stadium.
Founded in 1755 it went out of business in the 1830s. Harry Dutfield founded the current company in 1937.
Duff & Phelps has already sold underlay division, Axfelt, and anticipates selling the Axminster Carpet Shop.
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