A multi-million-pound home furnishings empire, which started as a Skipton market stall, has gone into administration.

Ponden Mill - which can trace its roots back almost 40 years - was bought by the Marston Mills Group in 2005.

But in November the group was bought by Agilo Ltd, a London-based private equity investment firm which specialises in "distressed companies".

This week, it was announced administrators had been called in after financial problems mounted.

More than 40 people have been made redundant at the headquarters in Keighley and 1,300 UK workers face an uncertain future. The company's problems have been blamed on a fall in consumer spending.

Marston Mills, which also trades as Coloroll, has 135 stores in the UK - including one in Caroline Square, Skipton - and 80 concessions in retailers such as Debenhams and B&Q.

Ponden Mill was started by Barry Brookfield, a former RAF dog handler, in 1968.

Initially he traded from a market stall in Skipton, but in the 1970s he started selling duvets from an old mill in Stanbury before opening his first shop.

In 2005, Mr Brookfield, who was then 68, sold the £50 million turnover company to Blackpool Tower boss Trevor Hemmings, who owned Marston Mills.

No-one from Marston Mills or Agilo was available for comment.