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.
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