Historic UK Carpet Maker Axminster Calls In Administrators

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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, Reuters reported. 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. Read more.