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.
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.