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Gloucestershire Business News

Prestigious carpet firm faces administration for a second time

High-end carpet brand, Axminster, is in rescue talks with potential buyers.

The brand which dates back to 1755 and is sold in stores across Gloucestershire, including John Lewis in Cheltenham, has administrators Duff and Phelps on standby, as reported by the BBC.

The company first went into administration in 2013 and was bought out by a consortium led by the private investor Stephen Boyd, with a controlling stake in the brand bought by a wool supplier in 2016.

Now up to 90 jobs could be at risk in Devon if the company enters administration for a second time. Saving the firm is important to the local town of Axminster, after it previously lost 300 of 400 jobs in 2013.

The first Axminster carpets were bought by royalty, including King George III and Queen Charlotte. Its products are now fitted at Clarence House, the Brighton Pavilion, Twickenham Stadium and many other high profile buildings.

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