AN ANNOUNCEMENT, which could seal the future of one of Kendal's longest established firms, is expected early next week.

Administrators brought in at carpet-making Georgian Goodacre Ltd are considering a management buy-out bid and intend to make their decision known in the coming days.

"The decision will be whether we accept the offer or not," confirmed Gary Lee, director of corporate recovery at Begbies Traynor insolvency practitioners.

He said three to four bids had been made for the business, which employs about 200 workers on Aynam Road, but said: " The offer from the management buy-out team is the best offer we have received as a going concern."

As previously reported by The Westmorland Gazette, Goodacre went into administration last November when experts from Begbies Traynor were brought in to secure supplies and ensure manufacturing continued while buyers were sought for the business.

Mr Lee said this week that the management buy-out team had put "quite considerably" more money on the table for the business than other interested parties.

"That's what made us sit up and take notice because it was such a good offer for it as a going concern."

A six-strong team of experts has been working with Goodacre, spending several days a week at the site.

Mr Lee said that was usual when dealing with a company which had historically achieved a turnover of about £10 million.

Mr Lee explained that "a number of issues" surrounding the bid were still being discussed, while other parties interested in the property, machinery and stock have been told to " firm up" their offers and get them in.

These will be compared with the buy-out bid as administrators seek the best price for the creditors.