Godfrey Hirst Gets Due Diligence Extension on Felt
Wellington, New Zealand, August 21, 2006--Feltex Carpets has given Australian suitor Godfrey Hirst a week's extension to its due diligence exercise, according to Stuff.co.nz.
Godfrey Hirst now has until August 28 to finish the job.
The company said alternative buyers Graeme and Craig Turner continued to examine Feltex's books as part of their recapitalization proposal.
Meanwhile the debt-ridden carpet manufacturer has appointed Ferrier Hodgson to prepare a report on the Godfrey Hirst plan, which shareholders will receive with special meeting details.
