Victoria, Australia, December 1, 2006--The receivers for Feltex say they've completed the sale of the carpet marker to Godfrey Hirst.
McGrath Nicol says the sale is now official, and Feltex's name has been changed to EXFTX Ltd, marking the end of the Feltex brand.
Feltex Carpets Ltd was placed in receivership by the ANZ Bank on September 22. The company owed at least $NZ135m to ANZ.
Despite the announcement, EXFTX could still face further hurdles.
Shareholders seeking redress for their losses are pursuing separate remedies that could still make life sticky for Godfrey Hirst and others.
Earlier this week, shareholder Tony Gavigan sought High Court permission to become a director of Feltex.
His move was opposed by the Shareholders' Association which believes liquidation is a better option.
Both the association and Mr Gavigan will return to the High Court later this month to resolve the situation.
