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Carlyle could rescue second troubled carpet maker Axminster

25 Feb 2013

carpetUS buyout giant Carlyle could come to the rescue of troubled UK carpet maker Axminster after the 250-year-old company set for administration, it is understood.

Axminster announced it would hire Duff & Phelps to act as administrators last week after struggling in recent years, including recording a pre-tax loss of more than £1.3m in 2010.

A report in the UK’s Sunday Times said Carlyle was the frontrunner to buy the business as it already owns Brintons Carpets, which was struggling when the firm bought it in exchange for bank loans of £18m in 2011

The newspaper quoted Carlyle managing director Ian Jackson as saying, “Given we have a strong track record at turning around carpet companies, it would be remiss of us not to take a look if or when the company goes into administration.”

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