Axminster Carpets Limited is set to enter administration with Duff & Phelps set to be appointed to handle the process.
The company is continuing to trade while administrators explore all potential rescue / restructuring options. The company’s board of directors today issued a statement stating that it intends to appoint administrators.
The notice was filed in order to provide the company and its creditors with a moratorium period during which the various rescue options being explored can continue.
The notice of intention to appoint administrators named Ben Wiles, Geoff Bouchier and David Whitehouse of Duff & Phelps as joint administrators.
The company’s director, Joshua Dutfield, said: “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.”