Carpets of Kidderminster Gets Management Buyout

Kidderminster, UK, Sept. 17, 2010--A management buyout has saved half the jobs at Carpets of Kidderminster.

An agreement was signed this week with the administrator of Carpets of Kidderminster for the buyout, after the company went into administration last month.

The new managing director said the firm should now be in better shape, with a number of "unprofitable" contracts being re-negotiated during the administration process.

He also noted: "We are now one of the few remaining specialist carpet businesses which manufacture carpet in the UK."