The managing director of the new firm rescued from Carpets International today said it had a bright future - and was committed to Bradford.

Abingdon Flooring was formed after a management buy-out of the Newbridge plant of the former Carpets International business which slumped into administration earlier this year. And - despite union fears the deal would leave the former Bradford head office redundant - new managing director Jim Taylor said the base in the city would be retained. The company's sales and administration team will stay in Bradford with staff shifting to a new headquarters in Tong Street when the lease runs out on the current premises in Rooley Lane at the end of the year. But the Bradford team will initially number just 25 - a huge cut on the 150 who were based in the city before the financial problems.

The crisis led to the closure of the Carpets International plants in Hartlepool and Hull but a second management buy-out is expected to secure the future of the Northern Ireland manufacturing plant.

"The whole plan is to grow the business over the next three to four years," said Mr Taylor. "We have had a lot of commitment from our major customers to support the business. We are still one of the major carpet manufacturers in the UK and we are very optimistic going forward."

He admitted the company had been through a "very difficult" period which saw the total workforce of 1,200 cut to just 330. But he said the company was more viable with just one manufacturing base rather than the six operating under the Carpets International brand.

And Mr Taylor said the Bradford site was crucial for the company's future.