* 250-year-old company continues to trade while it explores
* Trading has been "difficult" - Axminster director
* 400 jobs at risk
LONDON, Feb 20 Axminster Carpets, the
manufacturer whose luxury carpets have graced Britain's stately
homes and palaces since the eighteenth century, is calling in
the administrators, joining a growing list of businesses seeking
rescue to avoid collapse.
The 250-year old company, which employs around 400 people,
said on Wednesday it would continue to trade while it explores
all potential restructuring operations.
Axminster was named after the hometown of its founder Thomas
Whitty, who started making carpets in 1755. Its woven wool
carpets and rugs were chosen for stately homes and were snapped
up by members of Britain's royal family.
In modern times, the company has supplied carpets to high
street retailers including John Lewis Plc and Carpetright PLC.
"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,"
company director Joshua Duffield said in a statement.
Axminster said it intended to appoint Duff & Phelps as
With consumers struggling with muted wage growth and
government austerity measures, Britain has seen a number of
household names enter administration in recent months, including
music retailer HMV Group Plc, camera specialists Jessops and the
UK arm of DVD rental firm Blockbuster.