Carpet Firm Floored by Tough Trading Conditions
A carpet firm has been placed in administration after being floored by tough trading conditions.
Woven Carpets of Kidderminster Limited - a designer and manufacturer of woven carpets – amassed debts of £700,000. The Stourport-on-Severn-based company employs 69 people and an annual turnover of £3,500,000.
Simon Plant, SFP group partner, and the appointed insolvency practitioner, said: ‘Woven Carpets of Kidderminster Limited experienced a reduction of orders which led to cashflow problems. The company is continuing to trade to maintain goodwill and we are in talks with a number of potentially interested parties for the sale of the business and assets.