New company emerges from Carpets International receivership

Up to 116 jobs are set to be saved following a management buyout that will see a carpet factory in Co Down re-open.

Carpets International Ltd, with plants at Donaghadee and Killinchy, went into receivership five months ago.

However, a team of former managers have secured funding for a new company, Donaghadee carpets, from a number of sources including Invest NI, Enterprise Equity and Ulster Bank. The new company began production this morning.

West Yorkshire-based Carpets International employs around 1,190 people across the UK.