BusinessCompany NewsRoyal carpetmaker enters administration again

Royal carpetmaker enters administration again

Carpetmaker floored for the second time in six months following poor sales. Ernst & Young attempts another rescue plan

A carpetmaker for the Royal family has entered into administration for the second time in a year, with Ernst & Young again attempting to steer the business back to safety.

Link: PKF appointed as Gadget Shop administrators

Hugh Mackay, a Durham-based carpetmaker that holds the Royal Warrant, had to make 85 redundancies yesterday following poor sales in the last six months, leaving just 45 staff.

Ernst & Young helped secure an MBO for the carpetmaker last October.

An Ernst & Young spokeswoman told Accountancy Age that the business had ‘forecasted sales that didn’t materialise’.

‘We’re looking at the viability of the business as a significantly downsized proposition.’

She could not confirm if Hugh Mackay’s board was part of the job cull.

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