An English carpet company that went into administration on February with the loss of 300 jobs, is to return to business on Monday.
Axminster Carpets was one of Devon's biggest private employers.
The new company, known as Axminster Carpets (2013) Ltd, will focus on the domestic consumer side of the business and its retail network.
Carpets will continue to be designed, developed and produced in east Devon.
The BBC reports the consortium was led by private investor Stephen Boyd, backed by Centric Commercial Finance.
The origins of the company can be traced back to Thomas Whitty, who began making carpets and rugs in the town in 1755 using what became known as the Axminster method of weaving.
The first carpets were bought by the likes of King George III and Queen Charlotte, who visited the factory.
The Whitty family firm went out of business in the 1830s, but the tradition was revived in 1937.
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