BusinessBusiness RecoveryPwC cuts jobs at Carpets International

PwC cuts jobs at Carpets International

Administrative receivers at the UK's biggest carpets manufacturer have been forced to cut nearly 300 jobs to reduce costs.

Link: PwC takes charge at Yorkshire carpet maker

Roger Marsh, Steve Ellis and Garth Calow from PricewaterhouseCoopers, were appointed joint administrative receivers at Carpets International last month.

Yesterday, following a ‘detailed review of the current financial position’, the receivers were forced to cut 296 jobs, explaining that ‘current sales orders and available funding mean that trading can only be continued if the company’s cost base is reduced’.

None of the cuts are at the company’s Newbridge factory, with 92 jobs going in Killinchy, Northern Ireland, 74 at Hartlepool, 60 at the head office in Bradford, 48 in Donaghee and 22 in Hull.

Roger Marsh said the receivers were encouraged by the initial levels of interest that have been expressed, but said time was required to determine whether this would convert into forms offers for the business as a whole or in parts.

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