Carpetright has returned to private ownership after the court-approved scheme of arrangement, which sees lender Meditor Fund take full control of the U.K.'s largest carpet retailer, came into effect.

Designer Contracts, the national floorcoverings contractor, has promoted Stacey Brereton to its board as health and safety director.

Floorcoverings distributor and manufacturer Victoria is to repay all its outstanding senior bank borrowing with the issue of £170 million of corporate bonds.

Penthouse Carpets, one of the U.K.'s largest independent floorcoverings manufacturers, posted rising revenue and profits in 2018–19 despite facing headwinds in the market sectors it operates.

The Competition and Markets Authority (CMA) has given Danspin more time to complete a sale of Yorkshire based carpet yarn spinner Lawton Yarns to an as-yet unnamed buyer.

Headlam, Europe's largest floorcoverings distributor, says its new £26 million regional distribution centre at Ipswich is on track for operational completion by Easter.

British carpet imports from Belgium, the principal source of overseas-produced flooring sold in the U.K. market, fell sharply in November, meaning they have now dropped in seven of the past eight months.

Return to growth for North London rug distributor.

Meditor Fund, whose takeover of Carpetright is due to complete early 2020, has provided a £9 million unsecured loan to the floorcoverings retailer.

The privately-owned Brockway Carpets group was back in profit in the year to March 31, 2019 after doubling the return from its carpet tufting business, outweighing losses at its weaving unit.

The return of Carpetright to private ownership took a step closer yesterday after the requisite number of voting shareholders waved through its takeover by a vehicle controlled by Meditor Fund.

Ulster Carpets maintained high profits and continued to invest in new manufacturing equipment as wider gross margin helped counter a slight fall in sales in the year to end March.

Mears Flooring, one of the U.K.'s largest independent carpet and floorcoverings retailers, grew sales and profits in 2018–19 despite difficult trading conditions in the domestic market.

Floorcoverings distributor Likewise has fleshed out further details of its half-year performance as the emerging group continues to enact its buy-and-build strategy.

Floorcoverings retail market leader Carpetright has begun its previously-announced rollout of concessions in Furniture Village stores, opening at Leeds and Gateshead in the past week.

Britain imported more carpets and rugs in October despite weaker numbers from Belgium and the Netherlands, the two source nations that together represent half of all imports.

Danspin, the Danish carpet yarn spinner that bought Lawton Yarns out of administration this summer, has offered to sell the business to avoid the U.K. competition regulator escalating its antitrust inquiry.

Underlying half-year earnings jumped nearly a third for acquisitive floorcoverings distributor and manufacturer Victoria as it grew sales at its existing businesses and integrated acquisitions.

An unspecified number of workers at West Yorkshire carpet manufacturer Westex were due to go on strike yesterday (Nov. 20) in a dispute over pay according to Unite, the trade union.

An India and U.S. based rug maker that supplies companies including Restoration Hardware (RH), Anthropologie and Soho House is launching into the U.K. market for the first time.

The prospective new owner of Carpetright has been given the backing of the flooring retailer's board and says the chain can thrive "without the constraints of a public market listing."

Imports of carpets into Britain jumped double-digit in September after a return to form for manufacturers in Belgium, the U.K.'s largest trading partner in the category.

Network sales across the 22-store Carpets4Less franchise — which operates 22 stores across England — held firm for the second straight year in 2018–19.

Belgian carpet maker Balta Group sold more in the third quarter after improved sales in its commercial business and as a result of some of its British customers making preparations for Brexit.

The Danish company that bought a key supplier to the U.K. carpet industry has been given a week to offer solutions to competition concerns else antitrust regulators will step up their inquiry into the deal and could force its reversal.

Matt Williams, CEO at smooth flooring and wallcoverings retailer Topps Tiles, has decided to resign and will leave the board at the end of the month. Current chief financial officer Rob Parker, also a Topps veteran, is his replacement.

Flooring market leader Carpetright could be taken private after it began discussions with Meditor European Master Fund, a lender and shareholder in the retailer, regarding a possible takeover with a debt-for-equity swap to transform its capital structure.

Tony Judge was previously chief operating officer at Headlam and worked with the West Midlands group for more than a quarter of a century.

Mohawk Industries, the world's largest flooring company with businesses operating across the world, recorded lower profits in the third quarter.

Headlam Group, Europe's largest floorcoverings wholesaler, has acquired the trade and assets of Edel Telenzo Carpets, the U.K. distribution company for Dutch carpet maker Edel Carpets.

The growth of carpet imports into the U.K. has slowed after trade declined at the height of summer, new HMRC data shows.

tapiCarpetsFW1
Tapi is now trading from nearly 130 stores.
Tapi Carpets & Floors, the expanding flooring chain run primarily by former Carpetright executives, posted a bigger loss in 2018 after costs increased and gross margin narrowed.

Biggest shareholder in Tapi now owns nearly a quarter of the company while others, such as DFS founder Lord Kirkham, have seen their stake diluted.

Brintons, the private equity backed Worcestershire carpet maker, is to scale down its yarn-spinning operation ahead of the facility's planned closure next spring.

ScS has refitted flooring departments across its estate as the sofas and carpets specialist looks to reverse sliding sales in the category amid intense competition from warring rivals.

Rising sales of domestic floorcoverings helped one of the sector's largest privately-owned wholesalers return to the black in 2018.

karndeanWorcGgl
Karndean's Vale Park, Evesham showroom and headquarters.
Luxury vinyl tile floorcoverings supplier Karndean booked high, but narrower margins in 2018, a year when revenue continued to climb thanks to export orders.

Privately-owned carpet maker and distributor Cavalier Carpets continued to book high six-figure profits in 2018 after a slight uptick in output.

amticoFW2019
Luxury vinyl tile (LVT) is one of the industry's big growth markets.
The U.K. was a big growth market as luxury vinyl tile giant Amtico bolstered sales and underlying profits in the year to December 31, 2018.

Heritage carpet maker Axminster Carpets will streamline operations at its Devon factory after announcing voluntary redundancies.



To read the full story: