A Midlands based flooring company that had traded under at least three different retail brand names has been placed into liquidation, owing millions to creditors.

Rochdale manufacturer Penthouse Carpets said trading was steady ahead of the arrival of the pandemic with the final three months of its financial year hit by the first lockdown.

Independent flooring retailer and contractor Mears Furnishers strengthened its financial position in the year leading up to the early weeks of the pandemic.

Nestware Holdings, part of the Meditor Group that took Carpetright private early last year, has agreed to buy major flooring distributor Carpet & Flooring from its private equity backer Endless. It is its third acquisition in six months.

Carpetright will begin a recruitment process to find a successor to chief executive Wilf Walsh, who has become chairman at the retail chain's parent company Nestware Holdings.

The chief commercial officer at U.K. Flooring Direct has become chief digital officer in a move that reflects the major flooring retailer's upscaled plans for digital technology investment.

The slog for Belgium's carpet makers continued at the start of 2021 with Britain's biggest trading partner for the category sustaining another sharp fall in the value of product arriving here.

Adjusted profits fell high single digits on a near €110 million sales drop for flooring giant Balta last year, with it slipping to a net loss overall after finance costs and non-cash write-downs.

A new nylon yarn aimed at residential carpet makers contains 75 percent recycled material and is itself "endlessly recyclable" according to its Belgian proponent.

The West Yorkshire wool supplier that owned heritage carpet maker Axminster until early last year has completed a restructuring process it initiated nearly two years ago to improve its finances.

Brockway Carpets slipped to a loss last year as a result one-off restructuring costs and the end of its financial year being hit by lockdown and customers such as John Lewis halting carpet operations.

Flooring manufacturer and wholesaler Victoria has issued £500 million of new bonds, more than 40 percent higher than originally planned after strong investor demand.

Carpet and vinyl flooring manufacturers and distributors are facing up to supply shortages and cost increases for yarn, PVC and other raw materials with a significant knock-on effect expected for retailers.

Carpet and flooring manufacturer and wholesaler Victoria is to refinance with a leverage-neutral bond issue for €350 million.

Carpet imports into the U.K. climbed for a second straight month in December but it was a miserable end to the year for Belgian manufacturers, who have suffered more than most through 2020.

Profits climbed sharply at carpet maker Cormar in 2019–20 on the back of wider margins, surging demand following the first lockdown and after annualising non-recurring expenses from the previous year.

Retail demand returned strongly after the first lockdown last year but the chairman of Ulster Carpets says the future is less certain for contract markets because of the effect of the pandemic on the hospitality sector.

Designer Contracts has expanded its presence in Scotland in response to exponential sales growth, the floorcoverings contractor and supplier says.

Flooring contractor Designer Contracts has appointed Simon Westley as logistics manager and promoted three managers to new roles.

Balta Group, the major Belgian carpet manufacturer and one of the largest suppliers to the U.K. floorcoverings market, plans to refinance its long-term borrowing.

The flooring industry has found growth despite difficult trading conditions according to retailer Calverts Carpets, one of the largest regional chains in the U.K.

Flooring and beds retailer United Carpets Group will delist from the Alternative Investors Market (AIM) on Friday as it returns to private ownership.

Headlam Group, Europe's largest collective of floorcoverings wholesalers, says strong demand for residential flooring products in the second half of last year helped negate weaker earlier trading.

The South Wales carpet manufacturing arm of flooring giant Victoria returned to profit in 2019–20 as it annualised millions of pounds of restructuring costs.

U.K. imports of carpets and rugs advanced high single-digits according to newly-released November data as China, India and Turkey made gains while traditional manufacturing powerhouses continued to toil.

Strong trading in the back half of last year enabled flooring retail chain Tapi Carpets & Floors to pay off short-term lending from key investors.

Major U.K. carpet and flooring distributor says it had seen little investment in three decades before it set about transforming its business under new ownership.

Nigel Graham, the former co-owner of a Yorkshire carpet manufacturer bought by flooring conglomerate Victoria in 2019, has left the company.

Luxury vinyl tile (LVT) giant Karndean International says there are positive demand indictors with the sector so far resilient during the pandemic. Its comments came as it filed accounts showing record sales.

The U.K. arm of the Belgian manufacturer behind the Invictus and Vivendi carpet brands posted a double-digit sales fall in 2019 and incurred higher costs launching new products here.

Company behind U.K.'s number two carpet franchise network slips to loss on narrower margins, higher costs.

Imports of carpets and rugs fell at their steepest rate since the summer on weaker growth figures from emerging partners. Arrivals from established source nations such as Belgium and the Netherlands remained feeble.

Revenue advanced in mid-single digits for Coventry based luxury vinyl tile (LVT) giant Amtico last year but margins were thinner as a result of higher costs.

The co-founders and majority shareholders of United Carpets and Beds have offered to buy out remaining stockholders in a deal that would see the flooring retail franchise delisted from the Alternative Investors Market (AIM) and return to private ownership.

Carpet producers, distributors and retailers as well as their customers could see extended lead times after the insolvency of a major specialist haulier put product out of sync.

Earnings grew on higher sales last year for the Yorkshire rugs and soft furnishings manufacturer behind the Howler & Scratch and Rug Guru brands.

Business model adjustments have helped drive major efficiency improvements for Abingdon Flooring, one of the U.K.'s largest carpet makers, parent company Victoria said yesterday.

The executive chairman of flooring conglomerate Victoria says he expects no let up in demand with the group to achieve meaningful organic growth into 2021 as consumers continue to invest in their homes.

Headlam, Europe's largest floorcoverings distributor, says it thinks a small amount of data has been extracted following what it called a cyber security incident.

U.K. Flooring Direct will open a new sourcing and development office in China and invest in an expanded product offer after agreeing an investment package with Business Growth Fund (BGF).



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