A Kidderminster carpet maker which employs 69 people has collapsed after racking up debts of £700,000.
Woven Carpets of Kidderminster called in administrators after encountering financial difficulties.
The company based in Stourport-on-Severn, Worcestershire, designs and manufactures woven carpets and turns over about £3.5 million.
SFP’s Daniel and Simon Plant – both licensed members of the Insolvency Practitioners’ Association – were appointed Joint Administrators on February 24.
Simon Plant, group partner at SFP, said the company’s difficulties were attributed to cash-flow problems.
He said: “Woven Carpets of Kidderminster Limited experienced a reduction of orders which led to cashflow problems,” he says. “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.”
