My understanding is that there are 2 other goups, one manufacturing printed textiles and the other a chain of retail outlets in France. Both were loss-making and being propped up by a profitable creative world. The names of the other groups are misleading. Apparently the new CEO was preparing to dispose of them, well that was until yesterday's announcement.
I agree with you guys that the this would be a very sad thing for needlework, so I'm keeping my fingers crossed that the administrators can find a solution.