Axminster Carpets in administration discussions
Axminster Carpets, one of Devon's biggest employers, has applied to go into administration.
The firm, which can trace its beginnings back to 1755, employs about 400 staff at its east Devon plant.
It said administration would provide "a moratorium period during which the various rescue options being explored can continue".
The firm would go on trading while solutions to its problems were sought, it said in a statement.
Scott Bingham reports.
20 Feb 2013