The Devon manufacturer of high-quality carpets, Axminster Carpets, is on the brink of calling in the administrators.
Directors at the company said today that a notice of intention to appoint administrators had been filed. This will provide Axminister and its creditors with a moratorium period during which various rescue or restructuring options can continue to be explored.

Director Joshua Dutfield commented: "Trading has been difficult, and the management has been working with key suppliers, creditors and the lenders in an attempt to resolve the company's financial difficulties.

"We continue to be committed to working to achieve the best possible outcome for all concerned, and most importantly the staff and suppliers."

Carpets have been woven in Axminster, Devon for over 250 years, and for the last 75 of them by Axminster Carpets. While many companies make carpets that fall under the generic term 'Axminster' - that is, carpets made by the Axminster weaving process - Axminster Carpets, being based where it is, claims to be the only authentic manufacturer.

Axminster Carpets is a rare 'fleece-to-floor' manufacturer, spinning its own yarn as well as weaving a range of quality carpets. However, the strongly-patterned products with which the Axminster process is associated have fallen out of fashion in recent years, and the company has attempted to modernise with the introduction of plains and textures.

The notice of intention to appoint administrators nominates Benjamin Wiles, Geoff Bouchier and David Whitehouse of Duff & Phelps as joint administrators. Meanwhile, Axminster Carpets is continuing to trade.