Mark Garnier MP has today welcomed the news that Carpets of Kidderminster has reached a deal that secures a future for this local business. An agreement was signed this week with the Administrator of Carpets of Kidderminster for a management led buy-out of the business.
Dewi Thomas, newly appointed as Managing Director and a shareholder of the buy-out company said 'I am delighted that we have secured a future for the business. Clearly the last few months have been difficult for us but the Administration has allowed us to re-negotiate unprofitable contracts and put the business on a sounder footing. We are now one of the few remaining specialist carpet businesses which manufacture carpet in the U.K.
I hope that this deal will prove beneficial to our customers, our suppliers and our employees whom I would like to thank for giving us their support.'
Speaking of the news, Mark Garnier MP said 'I welcome this announcement from Carpets of Kidderminster. Of the 120 people who were employed by the company, 58 will be employed in the new business and this is certainly a relief. Importantly, this management buy-out secures a sound financial basis for the company to move forward and I certainly see the advantages of the deal to employees, suppliers and customers that has been struck. I hope this means that Carpets of Kidderminster will now be starting a journey that will see it go back to full strength and employ more local skilled workers.'