Flooring conglomerate Victoria moved to reassure shareholders on Friday after what it described as the "considerable reaction" to its auditor offering a qualified opinion on its 2022/23 results, a consequence of incomplete accounting records at a subsidiary called Hanover Flooring.

Roy Povey, one of several former Headlam executives who helped established challenger flooring supply group Likewise five years ago, is to stand down as chief financial officer.

Inaugural full disclosure accounts reveal West Yorkshire ecommerce retailer Luxury Flooring to be one of the largest currently operating in the category.

The ownership positions of major shareholders in Tapi Carpets & Floors including the founder of DFS and the deputy chairman of Dunelm remain undiluted despite thousands of shares changing hands and the issue of new equity.

The group behind North West manufacturer and flooring insurance claims handler Cavalier Carpets found earnings growth last year despite lower revenue.

Flooring distributor STS says the second half of 2023 has got off to a promising start after a softer trading period stymied efforts to hit targets earlier this year.

Shares in Victoria gained on Thursday after audited results were published confirming no changes to key preliminary data released a month ago.

Aquafil, the world's largest supplier of textile flooring yarn, is planning to close its Scottish carpet yarn facility with the expected loss of more than 30 jobs.

Carpet imports returned to negative year-on-year territory in July after a rare increase at the start of the summer proved to be just a blip.

Flooring giant Headlam last Wednesday completed the second of two under-the-radar summer acquisitions as the Midlands wholesale giant continues to bolster its distribution network.

Tufted and woven carpet exports from Belgium, Europe's largest carpet manufacturing nation, dropped last year as the Netherlands, its biggest rival and near-neighbour, made gains.

Turnover went from over £9 million in 2019 to a fraction of that within two years as the Covid-19 pandemic obliterated a leading flooring contractor's business, leading to its eventual closure.

Underlay supplier Ball & Young found top line growth last year saying new customers came aboard as specifiers and consumers are increasingly demanding real sustainability that goes beyond fine words and hopeful claims.

The market capitalisation of flooring conglomerate Victoria dropped by nearly £53 million on Tuesday after the company said its auditors have requested further time to complete their final audit procedures.

The value and volume of carpet imports into the U.K. advanced for the first time so far this year in June, but the improvement was not enough to eliminate the decline in first half trade.

Dutch carpet manufacturing giant Condor Group, a major supplier to the U.K. market, has completed a takeover of the assets of a compatriot manufacturer after it filed for insolvency.

Karndean has disclosed the terms of its buyout of mFlor International having announced a takeover of the Dutch luxury vinyl tile supplier earlier this year.

Adjusted profits jumped double digit for Karndean last year as the luxury vinyl tile (LVT) floorcoverings supplier found revenue growth across world markets.

National flooring supplier Designer Contracts has moved into larger office premises in Yorkshire to accommodate growth and future proof its operations in the area.

Axminster Carpets believes it can make vastly bigger savings than previously thought now that it is two years into a three-year programme to completely reconfigure the business.

Upmarket retailer The Floor Room is partially rebranding its flagship Tottenham Court Road debut store in a move that puts distance between itself and its larger, more massmarket sister brand.

Stakeholders at a southern England distributor majoring in the supply of floorcoverings to new housing developments were targeting the completion of a business restructuring after administrators were called in on Thursday.

Flooring wholesale giant Headlam Group found more growth from white collar retail buyers than white van man fitters in the first half but still warned on profits after citing weaker than forecast residential volumes.

The volume and value of carpets imported into the U.K. declined for the fifth consecutive month in May after a further decline from Belgian producers.

Stakeholders in the regional retail, wholesale and contracting company behind the Tile & Floor brand in Bath have completed an insolvent restructure that saves jobs but compromises creditors.

Keswick Flooring acquired the business and assets of U.K. Flooring Direct (UKFD) for £6.4 million in cash, restructuring advisors have disclosed in a report to creditors.

The owner of Wilton Carpets found big revenue growth last year but profits declined on thinner margins and higher costs.

Acquisitive flooring retail and wholesale group Nestware Holdings has disclosed the terms of the early 2021 buyout of TradeChoice Distribution for the first time.

Profits were flat at high-end engineered and solid wood flooring supplier V4 last year as double-digit cost inflation countered rising sales.

One of Victoria's largest European floorcoverings subsidiaries is proposing the closure of its carpet tile manufacturing facility in South Wales, saying it is no longer viable.

Expanding flooring distributor Likewise Group said it had maintained high double-digit revenue growth in the first half of 2023 as it delivers on its strategy of increasing market share.

Wilton Carpets says a seven-figure investment in new state-of-the-art high speed loom technology has cut power consumption by 15 percent and boosted production capacity by 500,000sqm per year.

The group behind regional carpets chain Wilsons and national ecommerce flooring brands such as Online Carpets booked lower profits last year as revenue declined.

Carpet manufacturing giant Cormar made a conscious decision to absorb some rising costs to remain competitively priced and protect sales last year. It was a period that coincided with heavy investment and shareholder returns.

Manufacturing giant Ulster Carpets will broaden its offer after agreeing to buy Alternative Flooring, the Hampshire based supplier of natural fibre carpets and rugs.

Carpetright has developed a project designed to improve the lives of families living in social housing across the U.K. with the aim of reducing the number of vulnerable people being left living with bare floors.

Profits declined at Designer Contracts in a year in which the flooring and furnishings supplier said its large stockholding capacity had enabled it to meet customers' requirements.

Dozens of consumers face a battle to recoup cash after the collapse of an independent carpet retailer based in the North West of England.

Carpet imports into the U.K. declined 15 percent by value in April with lower figures seen across all major source nations. Belgium suffered the largest fall.

One of the U.K.'s largest independent flooring contractors that provides full nationwide coverage has put creditors on alert after it filed a notice of intent (NOI) to appoint an administrator.

Profits declined last year at Lawton Yarns, a key cog in the U.K. carpet manufacturing supply chain, as it made a strategic focus to secure volume to protect the business and position it to grow when economic pressures subside.

Shares in the U.K's largest floorcoverings distributor fell to their lowest level in over seven months on Thursday after it had earlier said it was taking steps to address a reduction in gross margin.

National floorcoverings distributor TradeChoice Carpet & Flooring will expand its depot network by half this year, starting with a new facility opening next month.

International floorcoverings supplier Victoria has moved its registered headquarters to the company's purpose-built 185,000sqft distribution and administration centre at Worcester.

Losses widened at fast-expanding floorcoverings distributor Likewise Group last year despite top line gains driven by acquisition and organic growth from a larger market presence.

U.K. importers continued to buy in less carpet in March as both the value and volume of goods arriving at British ports fell again, new figures show.

National retailer Tapi Carpets & Floors has launched a programme of eco-friendly carpets manufactured from recycled polyester and plans to add further sustainable smooth flooring options in the near future.

Connection Retail, the group behind brands including Flooring Superstore and Direct Wood Flooring, has restructured its cost base after a year in which it incurred a seven-figure deficit.

The longtime private equity backer of Brintons says it has successfully negotiated revised debt covenants with the banking syndicate that lends to the group, shoring up the historic carpet maker's finances.

Flooring group Victoria says the laying off of hundreds of workers at Balta plants in Belgium and the shift of production to factories here and in Turkey will deliver synergy gains of no less than €15 million per year.

A multi-showroom London floorcoverings company has put creditors on alert after it filed a notice of intent to appoint an administrator (NOI).

The value of carpet imports into the U.K. was flat in February as higher prices compensated for a double-digit decline in volumes.

Heritage carpet industry supplier Bonar Yarns has been placed into administration but restructuring advisors say they remain hopeful of finding a buyer for the business as a going concern.

The company behind the Burmatex carpets brand deleveraged through 2022, a year that saw it make top and bottom line gains.

Flooring wholesaler Likewise Group has taken possession of its 47,000sqft high bay distribution centre in Glasgow ahead of it becoming fully operational later this spring.

A South East floorcoverings supplier filed a second notice of intent to appoint an administrator on Tuesday as stakeholders closed in on an apparent restructure.

The year-on-year value of carpets imported into the U.K. declined 4.3 percent in January, a first drop in monetary terms since the summer of last year.

A second straight period of growth helped North West flooring manufacturer Penthouse Carpets to last year achieve its highest sales since the financial crash of 2008.

A North West flooring and wall tile company has folded with seven-figure debts after a late 2020 company voluntary arrangement (CVA) agreement with creditors failed to complete.

A Walthamstow flooring company has folded leaving more than a dozen carpet, wood and vinyl suppliers owed five-and-six-figure sums.

The Carpet Foundation, the manufacturer-funded body that promotes carpet generically in the U.K., is to undertake a new burst of consumer advertising after the success of a similar campaign last year.

Martin Peace, an until-now near constant presence at major carpet supplier Abingdon Flooring in the decades before and after it became part of the Victoria group, has retired.

A three-year programme to consolidate factory space will save Axminster Carpets a seven-figure sum annually and rightsize the business for the future, its owners have said.

Victoria-owned Balta is proposing the transfer of wall-to-wall carpet production from Belgium to the U.K., citing challenges being able to make products profitably in its homeland.

Mohawk Industries, the world's largest floorcoverings supplier, said all of its European flooring categories experienced significant volume declines in the fourth quarter as customers cut back spending.

U.K. importers bought 12 million sqm of carpets and rugs into the country in December as volume growth returned after four straight year-on-year declines.

Flooring conglomerate Karndean has acquired Dutch Luxury vinyl tile (LVT) contemporary mFLOR International in a deal that bolsters its presence in mainland Europe.

Staffordshire floorcoverings group Brookvale grew profits last year as revenue climbed by nearly a third across its regional distribution network.

The three largest regional distributors of a Staffordshire based floorcoverings and flooring supplies wholesale group operating across England, Scotland and Wales all delivered big growth last year.

Calverts Carpets booked record profits for the second straight year after the regional floorcoverings retailer achieved its highest sales in over a decade.

Former DFS chief marketing and commercial officer Toni Wood has taken another C-suite role in the U.K. furnishings sector after joining Headlam Group as chief customer officer.

U.K. importers bought 13.1 million square metres (sqm) of carpet into the country in November as volumes declined for the fourth month in a row.

Mears Flooring, one of the best-run privately-owned companies in the floorcoverings sector, maintained its double-digit net margin amid profitable growth last year.

A leading rug and mat manufacturer and distributor that has historically sold through retailers such as John Lewis and Dunelm invested and maintained high profits last year on underlying growth.

The combined book value of rug wholesaler Asiatic Carpets and its co-owned property companies climbed by almost £10 million last year as profits increased and real estate was revalued upwards.

High profits and an upwards property revaluation boosted the diversified company that combines running a handful of Frank's The Flooring Store units in the North East with a caravan parks business.

A four-fold rise in profits and higher sales helped bolster the finances of the group behind the Brockway Carpets and Grosvenor Wilton brands, accounts public Friday morning revealed.

The value of carpet imported into the U.K. climbed for the second straight month in October but volumes continued to slide.

Mohawk Industries, the world's largest flooring company, found top and bottom line growth at its largest U.K. business unit last year as it integrated the buyout of a Cambridgeshire wholesaler.

Revenue continued to trend upwards for Likewise Group during mid–late autumn as growth accelerated for the floorcoverings supplier through October and November.

Flooring conglomerate Victoria posted a stronger top and bottom line in the six months to October 1, 2022 but saw cash levels decline as a result of debt pay-down, acquisitions, capex and an operating cash outflow.

Major flooring producer Ulster Carpets says it will sacrifice short-term profits as it builds capacity with heavy investment at its factories across the U.K.

The cost of living crisis is suppressing demand for floorcoverings among U.K. consumers according to wholesale giant Headlam, but it said gains elsewhere would aid profits.

North West flooring manufacturer Bronte Carpets has decided to wind down operations, calling time on 40 years in business amid challenging trading conditions.

Flooring wholesale group Headlam has recruited from outside the home sector for its new chief financial officer, bringing an eight-month recruitment process to a close.

The value of carpet imports into the U.K. rose for the first time in four months in September as higher prices countered a continuing slide in volumes.

A strong dollar and tough trading in Europe impacted flooring conglomerate Mohawk Industries in the third quarter, with customers putting off non-essential spend and price rises struggling to keep pace with inflation.

Likewise Group said the war in Ukraine, political instability in the U.K. and a particular hot summer will result in profit being below expectations when it reports full year numbers for 2022.

The value of carpet imports into the U.K. declined to its lowest level since December 2021 after volumes fell by almost a fifth in the latest chronicled month, according to new figures.

A longtime investor in diversified flooring manufacturer and distributor Victoria now owns more than a fifth of the company after it upped its stake in the business on Wednesday.

A floorcoverings company that used to work with one-time major home furnishings independent Alan Ward is expanding with the launch of a second retail and trade showroom.

National retailer Tapi Carpets & Floors has booked inaugural profits on the back of wider margins and top line growth, with it targeting further gains this year despite the weakening market.

National floorcoverings distributor Carpet & Flooring, which operates a dozen depots across the country, has rebranded the business to give itself a more distinct and targeted name.

The U.K. arm of Belgian carpet maker Associated Weavers (AW) will look to make faster deliveries to customers here once a new warehousing facility opens early next year.

The group behind the contract floorcoverings brands Heckmondwike Carpets and Paragon Carpet Tiles bolstered its balance sheet after a year in which profits climbed on wider margins and higher sales.

U.K. arm of Scandinavian hardwood floorcoverings manufacturer expects low growth amid uncertainty from the global recovery from the pandemic.

High U.K. demand post lockdown super-charged a return to profit for luxury vinyl tile (LVT) supplier Amtico as the Coventry company closed in on a decade under the ownership of U.S. flooring giant Mannington Mills.

Likewise Group, the challenger flooring distributor that has been buying up companies and building infrastructure to take on larger rivals, says demand has continued to be strong through late summer and into the autumn.

Privately-owned South East England floorcoverings wholesaler STS booked higher profits last year on wider gross margin and rising sales.

Balta Group will soon be no more. The Belgian flooring conglomerate is changing its corporate name to Belysse Group with the switch to be approved at an Extraordinary General Meeting next month.

The value of carpet and smooth floorcoverings manufacturer and distributor Victoria has moved erratically in the past few days, rising by more than £100 million before a steep decline.

The quantity of carpets imported into the U.K. fell for a sixth straight month in July as strong data from the Netherlands was outweighed by weaker figures from Belgium and Turkey.

Cavalier Carpets, one of the U.K.'s largest privately-owned flooring manufacturers and distributors, reinvested profits as the company bounced back strongly from the impact of the pandemic.

Higher prices helped Belgian carpet maker Associated Weavers (AW) achieve double-digit sales growth in the U.K. last year, though it sold fewer square metres of product in the process.

Narrower gross margin contributed to profits falling at the Karndean flooring group last year despite revenue jumping by the equivalent of about £74 million.

Airea, the parent company to contract floorcoverings brand Burmatex, has hired experienced home goods retail official Mederic Payne as its chief executive officer.

Volumes climbed sharply among tufted carpet manufacturers last year while production of woven carpets was flat despite lapping restrictions from the previous year.

The quantity of carpets imported into the U.K. fell for the fifth month in a row in June with high product price inflation not enough to send the total value above the same period last year.

Listed flooring group Victoria has spent more in share buybacks in the past week than in the entirety of last year as it seeks to take advantage of a perceived undervaluation in its share price.

The invasion of Ukraine by Russia has had a profound impact on the supply of engineered wood flooring according to a major U.K. supplier with worldwide sales north of £53 million.

The company behind smooth floorcoverings ecommerce brand Luxury Flooring & Furnishings has agreed a multi-year delivery contract with XPO Logistics.

Carpet yarn spinner Lawton Yarns agreed a six-figure settlement to end a legal claim with its former owner Danspin in a deal cut ahead of its subsequent management buyout earlier this year.

Steve Depport, head of the Metro Group, has been appointed a non-executive director at The Carpet Foundation, the industry group that promotes the use of carpet and those that sell it.

Acquisitions helped Victoria, the diversified international flooring manufacturer and distributor, to book more than £1 billion of sales for the first time in its history in the past year.

Carpet import volumes declined for a third straight month in May on the back of weaker trade with Belgium, historically the U.K.'s largest trading partner.

Wood flooring specialist Havwoods will open its second store this year and its fifth overall as it continues expanding its retail footprint in wealthy parts of the country.

National floorcoverings distributor Carpet & Flooring has appointed a new md with a raft of home improvement industry experience following the planned departure of longtime leader Lisa Tomlin.

The group behind regional carpets chain Wilsons and national ecommerce flooring brands such as Online Carpets landed bumper profits in the first figures since it reorganised under a single entity.

A seven-figure reorganisation saw Ireland, Northern Ireland and Scotland wholesaler Flanagan Flooring bring a property investment joint venture under its control last year.

Britain's biggest carpet maker held almost four times the value of raw materials at the year end as it invested heavily to enable it to meet surging demand for its products and deliver its highest ever profits.

Britain's biggest flooring wholesaler will enable independent retailers and one-man-and-a-van installers to hit sub-£15sqm price points after launching a new brand with a supporting micro-site.

Directors at carpet yarn spinner Lawton Yarns have completed a management buyout (MBO) of the company, ending the two year stint under the ownership of London private equity group Breal Capital.

Revenue jumped to nearly £90 million and losses were reversed for the U.K.'s self-described largest independent floorcoverings distributor last year.

The value of carpets imports dropped by almost a fifth at the start of the second quarter while volumes were down at nearly twice that rate on a year-on-year basis.

Floorcoverings suppliers and their customers must work in unison amid rising prices and an expected fall in demand, according to a worldwide collective representing companies in the sector.

Mike Scott will retire as chief financial officer at diversified flooring conglomerate Victoria later this year after six years in the role. His replacement joins from outside the industry.

Historic manufacturer Ulster Carpets has become one of just four carpet makers and six flooring companies to have been granted a Royal Warrant by The Queen.

Buy-and-build flooring group Likewise says it has established a trade brand in most geographical areas of the U.K. as new results confirm its annual revenue run-rate has breached nine-figures for the first time.

Cost cutting and a five percentage point improvement in gross margin lifts Wiltshire carpet group back into profit after a circa £300,000 bottom line turnaround.

Circa £16 million turnover Midlands 3PL and group logistics provider targets early next year to be fully operational.

The value of carpet imports advanced in high single digit percentages in March, masking a fall in the quantity of goods arriving at U.K. borders. Turkey proved the exception, delivering an increase on both counts.

The carpet and rugs business bought by Victoria in a carve-out of Balta Group's operations booked thinner margins in the first quarter as higher costs countered the impact of rising sales.

Decision, widely anticipated, follows divestment of certain I.P. and other soft flooring divisions.

Mohawk Industries, the world's largest floorcoverings company and a major supplier to the U.K. market, says it anticipated supply chain challenges resulting from the Russian invasion of Ukraine ahead of time to eliminate production downtime.

Major U.K. carpet maker Cormar has welcomed its new managing director into the business, bringing with him a deep knowledge of British and international textile manufacturing.

Flooring group Victoria says its ability to deliver while others couldn't because they were short of stock enhanced its reputation and has led to market share gains over the past year.

U.K. carpet imports climbed double-digit in February despite flat trade with Belgium, historically the largest trading partner for British buyers.

Likewise Group has agreed to buy West Yorkshire flooring distributor Delta Carpets from its private shareholders in a cash and shares deal worth £3 million.

Northwest flooring manufacturer Penthouse Carpets said it achieved a "remarkable performance" in 2020/21 despite a challenging second half to its financial year beset by issues outside its control.

Brintons is facing a potentially expensive demand from a former landlord but the international carpet maker is not unduly concerned about its financial impact.

Premium wood flooring and wall cladding company Havwoods has opened the first of what it hopes will be a slew of new retail showrooms planned for 2022.

Revenue declined at carpet maker Brintons last year but EBITDA and its net margin improved and the international manufacturer said business momentum is accelerating.

January carpet imports into the U.K. jumped almost a third at the beginning of the year on the back of strong figures from the Netherlands, Belgium and India.

Headlam Group, the flooring wholesaler with 66 business units across the U.K. and mainland Europe, swung back to profit last year on higher revenue and a big swing in gross margin.

The Carpet Foundation will launch a national consumer advertising campaign on Monday March 7 with 1.5 million advertisements to appear across a 10-week period spread through the year.

One of the U.K.'s largest suppliers to the floorcoverings sector has written to customers outlining planned price increases across more than a dozen items ranging from underlays to adhesives.

European carpet, rugs and smooth floorcoverings manufacturer Balta booked higher profits in 2021, a year that saw it decide to sell more than half of its business.

A circa £8 million carpet producer is to make a seven-figure manufacturing investment upgrading plant and machinery.

Former Adam Carpets and Bond Worth director Eamonn Prescott has been named the next chief executive at Greendale Carpets & Flooring, the buying group.

The giants of mainland European floorcoverings production endured a fourth straight decline in UK. carpet exports to finish 2021 on a sour note.



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