Britain's last commercial tannery which has been treating sheep skins for more than 200 years at a site in Buckfastleigh has been saved from closure.
Benjamin Wiles, Geoff Bouchier and David Whitehouse, of Duff & Phelps, were appointed to deal with the company Devonia – linked to Axminster Carpets – yesterday. However, immediately following their appointment, a sale of the business and assets of the company was completed to Eastern Counties Leather.
Mr Wiles said: "We are delighted to have completed a going concern sale of the business which has resulted in the continued operation of the sole remaining tannery in the United Kingdom and importantly saves 20 jobs.
He added: "Axminster Carpets Limited, the Company's ultimate holding company, does not form part of this sale and is not currently in administration."