Carpet jobs saved by management.More than 130 jobs have been saved with the management buy-out of a 100-year-old carpet company which numbers rocks stars and royalty among its customers. Durham-based Hugh Mackay
Hugh Mackay (c. 1640 – 1692) was a Scottish general best known for his service in the Revolution of 1688. Carpets went into administration last month after years of mounting debts were worsened by the collapse of some of its yarn suppliers. But now a management team, lead by former chief executive Steve Cowie, has plans to quadruple quad·ru·ple adj. 1. Consisting of four parts or members. 2. Four times as much in size, strength, number, or amount. 3. Music Having four beats to the measure. n. its turnover in a year and is considering expansion by acquisition. As its market shrank, the company cut its workforce from around 300 three years ago to 180 at the beginning of this year and another 49 when it went into receivership receivership In law, state of being in the hands of a receiver, a person appointed by the court to administer, conserve, rehabilitate, or liquidate the assets of an insolvent corporation for the protection or relief of creditors. . But now it says it will maintain staffing numbers with the hope of taking on more workers as business grows. The business is taking on agents to build international sales to its core market of pubs, hotels, casinos and transport as well as looking after its glamorous roster of individual clients. |
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