// Duff & Phelps secures future of 265-year-old carpet brand and retailer Axminster Carpets
// It has been sold as a going concern to a group of UK private investors including the Dutfield family
// The heritage brand fell into administration last month, resulting in 80 redundancies
Axminster Carpets has been rescued from administration, securing the future of the prestigious 265-year old carpet manufacturer and retailer.
Administrators from Duff & Phelps confirmed today that the business was sold as a going concern to a group of UK private investors, including the Dutfield family.
Axminster Carpets fell into administration last month, leading to the loss of 80 jobs.
The Retail Gazette has contacted Axminster Carpets for clarification on how many employees remain at the business following the administration process and redundancies.
When joint administrators Benjamin Wiles and Geoff Bouchier, were appointed, they sold the underlay division of the business, Axfelt, to Ulster Carpets.
Shortly after, the administrators secured the sale of the Axminster Carpet Shop to Wilton Flooring.
Axminster Carpet continues to have its own ecommerce platform that directly to consumers.
“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,” Wiles said in a statement.
It is expected that the purchasing entity will change its name to Axminster Carpets in the very near future.
The company is backed by a group of UK private investors, industry leaders and the Dutfield family and will continue to operate from its head office and manufacturing facility in Axminster.
“The swift conclusion of this process has enabled Duff & Phelps to secure the future of the business,” Wiles said.
“This deal will provide a stable financial platform, ensuring its long-term viability.”
Founded in 1755, Axminster Carpets is known for its woven carpets created through traditional techniques and natural materials.
One of its most famous clients was Buckingham Palace, and it was also tasked with recreating the original 1822 carpet at The Royal Pavilion in Brighton.
In 2018, Axminster Carpets made a pre-tax loss of nearly £1 million, and a loss of almost £3 million in 2017, according to accounts filed at Companies House.