Feltex directors quit

Tim Saunders, Michael Feeney, John Hagen and David Hunter resigned yesterday as directors of Feltex Carpets. Former chief executive Peter Thomas resigned form the board last month when receivers were appointed to the failed carpet maker.

"With the management of the company and its assets under the full control of the company's receivers, the directors have effectively ceased to have any ability to fulfil their ongoing responsibilities as directors," they said in a statement.