THE fate of Feltex workers in Tottenham and Braybrook is still up in the air as the ANZ Bank decides whether to accept a bid aimed at saving the carpet manufacturers from going belly up.
New Zealand brothers Graeme and Craig Turner, principals of bedding giant Sleepyhead, proposed to recapitalise Feltex.
They have offered $NZ40-51 million in addition to proposing new financing arrangements for Feltex’s current debt of $NZ135 million.
Feltex spokesman John Walsh said the ANZ Bank expected to make known this week whether the offer was acceptable.
Mr Walsh said he was unable to comment about workers’ job security.
Feltex employs a total of 465 people in the City of Maribyrnong.
“I think it’s hard for us to make any comment on the medium or long term situation until we get a bit more certainty as to whether or not we are going to get something to fly,” he said.
“We’re very conscious that all staff in New Zealand and Australia find the current situation difficult. There is a lot of uncertainty for them.
“We are trying very hard to keep staff as informed and up to date as possible but we are also not wanting to get into a situation of predicting the future.”
Mr Walsh said Feltex was experiencing quite good market conditions and producing solid sales.
