Quiligotti Home faces receivers

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The Independent Online
Quiligotti, the floor coverings group, yesterday asked National Westminster Bank to appoint a receiver to its loss-making subsidiary, Quiligotti Home Products, after that business continued to run up losses. Its principal activity was the manufacture of fireplace hearths and mantels.

In the year to the end of March 1994, QHP had a turnover of £2.1m, but incurred a loss before tax of £311,000. Quiligotti said the group's principal operating businesses are trading satisfactorily and the group remains within its banking facilities.

The company said QHP was not a core business. Quiligotti's share price closed dowm 1p at 12.5p.