September 22, 2006

Media Release

Feltex jobs seem safe - for now

It appears that Feltex workers will retain their jobs – at least in the short-term.

Engineering, Printing and Manufacturing Union national secretary Andrew Little has just spoken to the receiver appointed by the ANZ Bank, and has been told that the workers’ employment will continue on the same terms and conditions.

“This is good news for the hundreds of people who work for Feltex, who were shocked by the news this morning that the ANZ had put the company into receivership,” he said.

“What we need now is for the receiver to put every effort into finding a solution to the company’s debt problems to save this iconic New Zealand company.

“There have been two substantial offers on the table, from Godfrey Hirst in Australia and the Turner brothers in New Zealand, and it is deeply disappointing that that ANZ has chosen to put Feltex into receivership instead of helping it to find a way forward.

“We hope that the receiver will take a more positive approach to a company that produces a fantastic product and has a full order book.”

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[Earlier]

September 22, 2006

Media Release

Confusion at Feltex plants – workers should ‘sit tight’

Hundreds of Feltex workers left in limbo by news that the company has gone into receivership are being told by their unions to sit tight.

Engineering, Printing and Manufacturing Union national secretary Andrew Little said that plants across the country were in confusion in the wake of news that the ANZ Bank had put the troubled carpet maker into receivership, apparently rejecting a rescue proposal by the Turner brothers of Sleepyhead beds.

“We are telling our members to gather up their personal possessions so that they don’t get caught up in the receivership, and to wait in the smoko room until we hear more,” he said.

Mr Little said that the union had had no formal notification of the receivership, but had seen a brief confirmation to a plant manager from Feltex chairman Tim Saunders.

“The situation must be clarified as a matter of urgency,” Mr Little said.

“At some plants workers are being turned away at the gates, and no-one – including managers – seems knows what is happening.

“The receiver must, as a matter of urgency, get representatives to the plants and clarify the employment status of the workers.”

ENDS

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