Talks continue to save Axminster Carpets
- Credit: Archant
Top level meetings taking place in a bid to save firm from administration : rally planned for town tomorrow
High levels talks have been taking place in a bid to save Axminster Carpets – where 400 jobs remain under threat.
Mayor Andrew Moulding said negotiations went on throughout yesterday (Thursday) in a bid to formulate a rescue package.
Talks and teleconferencing involved several groups, including Devon County and East Devon district councils.
Mr Moulding said they remained positive.
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“The company is not in liquidation and although it is moving towards administration there is currently a moratorium and we are all keeping our fingers crossed.”
Meanwhile The Midweek Herald understands a rally is planned by carpet factory workers tomorrow (Saturday) to encourage support and launch a petition. No details of when and where the event will take place have as yet been officially released.
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Updates to follow.
* News of the company’s cash difficulties was revealed in a statement issued on behalf of the firm earlier this week.
It said: “The Company’s board of directors confirm that a notice of intention to appoint administrators has been filed with respect to the company. The notice was filed in order to provide the company and its creditors with a moratorium period during which the various rescue options being explored can continue.
“The notice of intention to appoint administrators nominates Benjamin Wiles, Geoff Bouchier and David Whitehouse of Duff and Phelps as Joint Administrators.”
The company’s managing director, Joshua Dutfield, said: “Trading has been difficult and the management has been working with key suppliers, creditors and the lenders in an attempt to resolve the company’s financial difficulties. We continue to be committed to working to achieve the best possible outcome for all concerned and most importantly the staff and suppliers.”