Flooring Industry News
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- COMMUNITY
Peter Kelsey, md of Chesterfield-based Designer Contracts, has been made a patron of North Derbyshire’s Ashgate Hospice, in recognition of the floorcoverings supplier's longstanding support for the charity.
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- FLOORCOVERINGS
Inaugural full disclosure accounts reveal West Yorkshire ecommerce retailer Luxury Flooring to be one of the largest currently operating in the category.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
The group behind North West manufacturer and flooring insurance claims handler Cavalier Carpets found earnings growth last year despite lower revenue.
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- FLOORCOVERINGS
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.
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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.
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- REGIONAL
Home furnishings retailer Glasswells has presented Graham Vale, deputy carpet manager at its Bury St Edmunds store, with an award for 50 years of service.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- RETAIL & DISTRIBUTION
The wait to unveil a new managing director at Carpetright, Britain's largest floorcoverings retailer, continues amid change elsewhere in the boardroom.
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- FLOORCOVERINGS
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.
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- RETAIL & DISTRIBUTION
Consumer prices rise for household furniture eased to their lowest level in over two years last month, but flooring inflation remains stubbornly high.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
Adjusted profits jumped double digit for Karndean last year as the luxury vinyl tile (LVT) floorcoverings supplier found revenue growth across world markets.
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- TRADE & INDUSTRY
Carpet Recycling U.K. (CRUK) has become the sixth trade association from the furniture and furnishings sector to become a member of the British Furniture Confederation (BFC), the organisation which liaises with, and lobbies, Government on behalf of the industry.
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- REGIONAL
A large independent rugs retailer trading from one of the main roads in and out of London has folded leaving large debts, mainly to the tax authorities and financial creditors.
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- FLOORCOVERINGS
National flooring supplier Designer Contracts has moved into larger office premises in Yorkshire to accommodate growth and future proof its operations in the area.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
The owner of Wilton Carpets found big revenue growth last year but profits declined on thinner margins and higher costs.
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- FURNISHINGS & ACCENTS
The unwind of an elevated stock position helped rug distributor Flair Flooring bolster its cash levels last year, despite recording lower profits.
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- SUPPLY & WHOLESALE
Bradford rugs and homewares supplier Melrose Interiors found trade more challenging last year ahead of its sale to the U.K.'s largest floorcoverings distributor.
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Acquisitive flooring retail and wholesale group Nestware Holdings has disclosed the terms of the early 2021 buyout of TradeChoice Distribution for the first time.
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Profits were flat at high-end engineered and solid wood flooring supplier V4 last year as double-digit cost inflation countered rising sales.
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- FLOORCOVERINGS
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.
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- DEALS & FINANCE
Keswick Flooring, part of the Nestware Holdings group that also owns Carpetright, has acquired the business of UK Flooring Direct in a deal that saves jobs and ensures outstanding orders will be fulfilled.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- RETAIL & DISTRIBUTION
Rising revenue was not enough to prevent profits falling at the group behind the 57-store United Carpets & Beds franchise last year. Cash also declined, in part down to loans to related party companies.
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- FLOORCOVERINGS
Manufacturing giant Ulster Carpets will broaden its offer after agreeing to buy Alternative Flooring, the Hampshire based supplier of natural fibre carpets and rugs.
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- RETAIL & DISTRIBUTION
The emergence of a new 35-store floorcoverings retail chain would ordinarily be a concern for the market leader in the category. Unless they both happen to share the same owner.
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- RETAIL & DISTRIBUTION
The Floor Room is taking over the running of the floorcoverings departments across the John Lewis estate but there are no plans to mirror that in other key home categories such as furniture or beds.
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- FLOORCOVERINGS
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.
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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.
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Dozens of consumers face a battle to recoup cash after the collapse of an independent carpet retailer based in the North West of England.
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- FLOORCOVERINGS
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.
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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.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- RETAIL & DISTRIBUTION
The CEO of Nestware Holdings says the flooring group is part way through a process to hire a new managing director for Carpetright, its largest retail brand, having recently appointed a new finance director.
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- FLOORCOVERINGS
National floorcoverings distributor TradeChoice Carpet & Flooring will expand its depot network by half this year, starting with a new facility opening next month.
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- RETAIL & DISTRIBUTION
The Floor Room, the flooring retail brand launched by Carpetright owner Nestware two years ago, is to take over responsibility for all of John Lewis’ fitted flooring, from customer consultation to installation.
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International floorcoverings supplier Victoria has moved its registered headquarters to the company's purpose-built 185,000sqft distribution and administration centre at Worcester.
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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.
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- FLOORCOVERINGS
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.
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- RETAIL & DISTRIBUTION
The write-off of a related party loan was behind furniture and flooring rental retailer Pay Weekly Carpets & Vinyl reporting a loss last year despite rising output from its in-house sofa manufacturing unit.
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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.
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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.
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- SUPPLY & WHOLESALE
Kellars expects to grow by a fifth in its current financial period after the the first full year impact of its depots in Glasgow and Rugby helped boost its national profile last year.
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Stronger gross margin helped protect profitability for Ireland, Northern Ireland and Scotland wholesaler Flanagan Flooring last year amid rising costs and lower revenue.
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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.
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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.
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- TRADE & INDUSTRY
Consumer price inflation for household furniture eased to a 19-month low in March while input cost inflation at the furniture factory gate fell to its lowest level in over two years.
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A multi-showroom London floorcoverings company has put creditors on alert after it filed a notice of intent to appoint an administrator (NOI).
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- ECOMMERCE
Nestware, the owner of both Britain's largest floorcoverings retailer and standalone wholesale business, says it has already realised synergies from the separate 2020 buyout of a major flooring etailer.
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- FLOORCOVERINGS
The value of carpet imports into the U.K. was flat in February as higher prices compensated for a double-digit decline in volumes.
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Higher sales to the residential and hospitality markets along with an uplift in demand from U.K. interior designers serving customers in the Middle East boosted a top-end rug distributor last year.
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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.
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The company behind the Burmatex carpets brand deleveraged through 2022, a year that saw it make top and bottom line gains.
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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.
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- RETAIL & DISTRIBUTION
Upholstery and flooring retailer ScS is to evaluate how consumers respond to DFS cutting its interest free credit offer by 12 months earlier this month, but says its own focus will remain offering optimum value.
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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.
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- RETAIL & DISTRIBUTION
Bensons for Beds will this weekend expand its West Midlands retail footprint with the launch of a new store at Erdington to the northeast of Birmingham city centre.
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- FLOORCOVERINGS
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.
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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.
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Britain's largest flooring wholesaler says it wants to grow its business with larger retail and trade customers by more than £100 million over the next five years.
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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.
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A Walthamstow flooring company has folded leaving more than a dozen carpet, wood and vinyl suppliers owed five-and-six-figure sums.
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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.
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- RETAIL & DISTRIBUTION
Privately-owned furniture retailer Glasswells has remodelled its Ipswich home furnishings store to create what it called a brighter and more contemporary atmosphere.
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- FLOORCOVERINGS
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.
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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.
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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.
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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.
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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.
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Flooring conglomerate Karndean has acquired Dutch Luxury vinyl tile (LVT) contemporary mFLOR International in a deal that bolsters its presence in mainland Europe.
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Staffordshire floorcoverings group Brookvale grew profits last year as revenue climbed by nearly a third across its regional distribution network.
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- FLOORCOVERINGS
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.
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- RETAIL & DISTRIBUTION
Britain's biggest floorcoverings retailer has been told to amend its marketing claims by the advertising watchdog after a complaint by its largest rival in the sector.
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- FLOORCOVERINGS
Calverts Carpets booked record profits for the second straight year after the regional floorcoverings retailer achieved its highest sales in over a decade.
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- REGIONAL
Privately-owned regional floorcoverings retailer Floorstore expanded its West Yorkshire store footprint late last year after agreeing a new debt funding package.
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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.
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- FLOORCOVERINGS
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.
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Likewise Group will add further infrastructure in the first half of this year with new distribution facilities in the South East of England and Scotland.
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- RETAIL & DISTRIBUTION
Employee-and-investor-owned retail chain Tapi Carpets & Floors has welcomed in the new year with a flurry of new store openings.
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- DEALS & FINANCE
Flooring group Headlam has acquired one of the largest independent players in the U.K. rugs market in a deal that bolsters its offer to the ecommerce sector.
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- FLOORCOVERINGS
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.
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- FURNISHINGS & ACCENTS
A digital challenger bank and the taxman have been left nursing significant debts following the insolvency of a rugs wholesaler based in the South East of England.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- UPHOLSTERY
Upholstered furniture and floorcoverings retailer ScS has expanded its store footprint in the north of England with the opening of a ninth store in Yorkshire.
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- RETAIL & DISTRIBUTION
A multi-site flooring retail and wholesale operation with warehouses across Scotland says rising costs have left it grappling with more challenging trading conditions.
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- DEALS & FINANCE
Esselle Retail, a distributor of flooring textiles based in the North West, has acquired Arthouse, the private equity backed supplier of wallcoverings and home décor.
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- FLOORCOVERINGS
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.
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The value of carpet imported into the U.K. climbed for the second straight month in October but volumes continued to slide.
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- FLOORCOVERINGS
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.
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- RETAIL & DISTRIBUTION
Chris Muir, chief financial officer at ScS for the past six years, is to leave the sofa and carpets retailer, sparking a search for a successor.
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- DEALS & FINANCE
Victoria's takeover of parts of Belgium's Balta group was well publicised but the flooring conglomerate has since completed the buyout of another nearby business, it disclosed Tuesday morning.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- RETAIL & DISTRIBUTION
Upholstery and flooring chain ScS says it is trading resiliently through a challenging period with order intake growth having returned through the autumn.
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- FLOORCOVERINGS
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.
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North West flooring manufacturer Bronte Carpets has decided to wind down operations, calling time on 40 years in business amid challenging trading conditions.
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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.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- DEALS & FINANCE
Flooring supplier Victoria has acquired International Wholesale Tile (IWT), a Florida based tile, natural stone and LVT distributor, in a deal worth $28.5 million (£24.9m).
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- RETAIL & DISTRIBUTION
The founder of DFS and an investment vehicle controlled by the deputy chairman of Dunelm remain among the largest shareholders in fast-growing and now-profitable flooring retailer Tapi Carpets & Floors.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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Headlam Group, the U.K.'s largest floorcoverings wholesaler, has bolstered its leadership team with two new independent non-executive board hires.
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- FLOORCOVERINGS
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.
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- RETAIL & DISTRIBUTION
Fast-growing flooring chain Tapi Carpets & Floors will keep its foot on the accelerator pedal with new stores opening through 2022.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- DEALS & FINANCE
The owner of one of the U.K.'s most prominent rugs businesses has agreed a deal with restructuring advisors to acquire rival rug brand Woven after the company behind the etailer was placed into administration earlier this week.
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- FLOORCOVERINGS
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.
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U.K. arm of Scandinavian hardwood floorcoverings manufacturer expects low growth amid uncertainty from the global recovery from the pandemic.
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- RETAIL & DISTRIBUTION
Five-store specialist retailer operates carpet and bed shops across Dorset and Hampshire.
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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.
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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.
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- UPHOLSTERY
Upholstery and flooring retailer ScS has named John Walden as the successor to non-executive chair Alan Smith, who will retire in just over a year from now.
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- FLOORCOVERINGS
Privately-owned South East England floorcoverings wholesaler STS booked higher profits last year on wider gross margin and rising sales.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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- SUPPLY & WHOLESALE
Headlam Group's search for a new chief financial officer has entered its seventh month after a prime candidate for the position decided at the last-minute to withdraw.
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- SUPPLY & WHOLESALE
An insurance claim and wider gross margin helped profits climb at flooring wholesale group Headlam in the first half of the year despite an already-signposted decline in revenue.
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- FLOORCOVERINGS
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.
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Narrower gross margin contributed to profits falling at the Karndean flooring group last year despite revenue jumping by the equivalent of about £74 million.
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- FLOORCOVERINGS
Airea, the parent company to contract floorcoverings brand Burmatex, has hired experienced home goods retail official Mederic Payne as its chief executive officer.
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- FLOORCOVERINGS
Volumes climbed sharply among tufted carpet manufacturers last year while production of woven carpets was flat despite lapping restrictions from the previous year.
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- RETAIL & DISTRIBUTION
Upholstered furniture and floorcoverings retailer ScS has relaunched its Gateshead store in the North East as part of a plan to roll out new concept showrooms with a series of technological and visual enhancements.
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- RETAIL & DISTRIBUTION
Upholstery and carpets retailer ScS has bolstered its operating board with the appointment of an experienced retail executive as its first ever chief marketing and digital officer.
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- FLOORCOVERINGS
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.
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- FLOORCOVERINGS
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.
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