BusinessBusiness RecoveryDuff & Phelps administrators save Axminster Carpets

Duff & Phelps administrators save Axminster Carpets

Administrators sell carpet manufacturer to a consortium that includes the former managing director

DUFF & PHELPS administrators have managed to sell carpet manufacturer Axminister Carpets.

Benjamin Wiles, (pictured) Geoffrey Bouchier and David Whitehouse, all from Duff & Phelps, were appointed joint administrators to Axminster Carpet on 5 March.

Included in the business sale are the manufacturing site and factory outlet stores in Axminster and Buckfast.

A local business consortium, which includes Axminster Carpets former managing director Joshua Dutfield, has bought the business – which will now be called Axminster Carpets (2013).

All 100 remaining employees will also be transferred to the new business. At the time of the collapse there were about 400 employees, however, the administrators made 300 redundant.

Wiles said: “We are absolutely delighted to be able to announce today that we have secured the future of Axminster Carpets, one of the best known British brands, following the successful sale of the business and assets of the Company to Axminster Carpets (2013) Limited.

The company was incorporated in 1937 and specialises in the manufacture of woven carpets using traditional techniques and natural materials. Difficult trading conditions, and a sharp increase in raw material prices, were blamed for the company’s collapse.  

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