Feltex grants due diligence extension to Godfrey Hirst

Feltex Carpets has given Australian suitor Godfrey Hirst a week's extension to its due diligence exercise.

Godfrey Hirst now has until next Monday to finish the job.

Meanwhile the alternative buyers, the Auckland brothers looking to keep Feltex listed, said yesterday that due diligence on the carpet-maker would be completed this week.

Craig and Graeme Turner - part of the family behind the Sleepyhead bedding group - said they had spent the past two weeks looking at Feltex operations in Australia and New Zealand.

Feltex shares fell half a cent yesterday to 10.5c.