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Hundreds to lose jobs as Axminster Carpets enters administration
HUNDREDS of jobs are expected to be lost at one of Devon's biggest employers after the company entered administration.
Administrators for Axminster Carpets said up to 300 of its 400-strong workforce are expected to be made redundant, with the remainder likely to be retained.
Duff and Phelps, which is handling the administration, said carpet manufacturing in Axminster is to be downscaled while yarnn production at the firm's site in Buckfast will cease.
The company was incorporated in 1937 and specialises in the manufacture of woven carpets using traditional techniques and natural materials.
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A statement reads: "Consequently, the Joint Administrators have had no alternative other than to make approximately 300 employees redundant at the Axminster and Buckfast sites.
"Some 100 employees have been retained by the Administrators.
"The factory outlet stores remain open for business as usual and the company will attempt to fulfil existing customer orders where possible.
"The main suppliers have already offered their continued support for the business during the Administration."
The company’s director, Joshua Dutfield, said: “Trading has been difficult and although it saddens the Board to make the decision to enter administration it could not be avoided.
"The management have been working with key suppliers, creditors and lenders to resolve the company's financial difficulties and whilst the last few weeks have been stressful, the company managed to pay the wages yesterday.
"We are now committed to working with the Administrators to asses all viable options for the future of the business and achieve the best possible outcome for all concerned and most importantly the staff.”
The Joint Administrator, Benjamin Wiles, added: “We recognise the importance of the business to the local community and will be seeking to work closely with management and all key stakeholders to restructure the business where possible, including the possibility of selling all or part of the business.”
Any creditors or customers with queries or if you are interested in buying the business should contact Duff & Phelps by email at the following address: AxminsterCarpets@duffandphelps.com .