Interviews
News Flash
Carpet maker Feltex' future in jeopardy
11 Sep '06
1 min read
Future of Melbourne carpet maker Feltex is threatened as the Geelong carpet manufacturer Godfrey Hirst backtracked from acquiring the former firm.
It is one thing that the company could end up in administration; but it is another that the future of hundreds of Victorian workers and millions of dollars worth entitlements are hanging in the balance.
Feltex owes more than $100 million to the ANZ Bank, who has set a deadline for Feltex to disclose details of any interested potential buyers.
The Textile Clothing and Footwear Union (TCFU) is concerned that the bank is making decision on the lives of the families of its members without meeting with them and also without giving details of future plans for this business.
It is one thing that the company could end up in administration; but it is another that the future of hundreds of Victorian workers and millions of dollars worth entitlements are hanging in the balance.
Feltex owes more than $100 million to the ANZ Bank, who has set a deadline for Feltex to disclose details of any interested potential buyers.
The Textile Clothing and Footwear Union (TCFU) is concerned that the bank is making decision on the lives of the families of its members without meeting with them and also without giving details of future plans for this business.
Popular News
Leave your Comments
Editor’s Pick
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
