Victoria Carpets, maker of the red carpet at William and Kate’s royal wedding, today blamed the tough economy, Olympic summer and Jubilee spring on its lower first-half sales — and warned it only expects to break even as a result.
Victoria said conditions in the UK and Ireland were “extremely tough”. Even higher sales to John Lewis branches and the insurance market had not been enough to offset that.
This year the 117-year-old business has been at the centre of a boardroom bust-up. Rebel shareholders have requisitioned a general meeting on Wednesday with the aim of removing chairman Katherine Innes Ker and non-executive director David Garman.
They want Alexander Anton, a former chairman and great-grandson of one of the firm’s founders, to be made chairman and Geoffrey Wilding, a former non-executive director, to return. The pair resigned from the board after directors refused to back their proposed incentive scheme.
Victoria today said that the general meeting will cost it £270,000.
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