Brintons Reportedly in Default, Seeks Investment

London, England, July 25, 2011 -- The future of Worcestershire-based Brintons Carpets looks uncertain, as it has reportedly defaulted on its banking terms with Lloyds Banking Group, according to Business Data International.

Company directors have appointed PriceWaterhouseCoopers to seek an investment of around $32.5 million required to keep the business running.

The company also reportedly has a succession problem, which may help force a sale.

The Brintons family has been manufacturing carpets since 1783. Chairman Michael Brinton is the sixth generation of the family firm, but his children are not involved with the business.

Brintons Carpets manufactures carpets for both commercial and residential markets.