Axminster Carpets bought out of administration
Axminster Carpets has been rescued after a group of private investors, including the previous owner, bought it out of administration.
The business, which entered administration on 19 February, has been bought by ACL Carpets – a consortium of investors including the Dutfield family that previously owned the firm.
The group is expected to be renamed Axminster Carpets in the near future, according to a statement by administrator Duff & Phelps.
The business, which is the holder of a Royal Warrant and was founded in 1755, has previously supplied Buckingham Palace.
Joint administrator Benjamin Wiles said: “We are absolutely delighted to be able to announce today that we have secured the future of Axminster Carpets, one of the best-known BRitish brands, following the successful sale of the business and assets of the company to ACL Carpets Limited.
He added: “The swift conclusion of this process has enabled Duff & Phelps to secure the future of the business. This deal will provide a stable financial platform, ensuring its long-term viability.”
The company’s underlay division Axfelt was sold to Ulster Carpets after it entered administration last month, while the Axminster Carpet Shop was bought by Wilton Flooring.