Mon, 23 Aug 2010 | ADMINISTRATION
Worcestershire-based Carpets of Kidderminster has been placed into administration, but its managing director remains positive about its future.
Managing director David Watts asserts that the 70-year-old manufacturing firm still has 'a long and viable future.'
In a statement the firm commented, “The management remain optimistic regarding the outlook for the company.
“The current production team, recruited early this year, have identified areas where remedial action will ensure the company returns to profitability in the short term.”
Andrew Fender of Sanderlings LLP has taken on the role of administrator for the business and is currently managing its affairs and property. It was not made clear if Mr Fender has been mandated to sell the business.
Established in 1934 by the late Lionel Rowe, a renowned figure in the local carpet industry, Carpets of Kidderminster started out with the manufacture of Axminster carpets. The firm expanded on the back of the Axminster carpets' rising popularity.
A supplier to commercial and residential customers, the carpet maker has over 170 workers and expects to shed about 50 in the process of administration.
The last recorded accounts at the business for the year to 28 February 2007 revealed revenues of £9 million.
Established approximately 5 years ago, the company is a highly regarded recruitment agency based in the East of England. The company serves the HGV logistics, construction, mechanical and electrical services (M&E), and criminal justice sectors, offer...
An opportunity exists to purchase the business and assets of a leading temporary recruitment company operating in Northern England and the South Coast of England. The company has an established trading history providing temporary staff to the logisti...
An opportunity to acquire the business and/or assets of an IT Training provider based in the South East.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.