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).

The retailer behind the Flooring Superstore retail chain redeployed its store staff to telesales roles as direct sales channels helped the expanding retailer grow revenue in 2019–20.

Demand for overseas-made carpet continued to recover as U.K. distributors and retailers brought in close to year-earlier levels for the first time this year.

Wholly-owned distributor offers brands such as Quick-Step, Elka, Balterio and Pergo to customers across the U.K. floorcoverings market.

Sales of residential products and rugs helped mitigate continued weakness in the commercial sector at flooring colossus Balta Group in the third quarter of 2020.

Flooring conglomerate Victoria says the imminent lockdown in England will make little material difference to its business in the long run, adding that its factories will remain open and continue to accept and deliver orders.

Revenue growth in Europe and other international markets helped counter weaker domestic demand at flooring conglomerate Mohawk Industries in the third quarter.

Tapi Carpets & Floors has hired Emma Collett as chief operating officer as the expanding floorcoverings retailer continues to reshape its management team.

Flooring and beds retailer United Carpets says its franchised and corporate stores bounced back strongly in the four and a half months since its business reopened this spring.

Carpet and flooring conglomerate Victoria is to raise up to £175 million through a preferred equity investment to bolster its armoury to buy up more of its rivals.

Invesco, the international money manager whose multi-year strategic saw it build a major stake in Victoria, has lined up deals that will see it sell its remaining shares in the flooring designer, maker and distributor.

Verona Group, a distributor of smooth flooring ranging from LVT to stone and ceramic tiles, is to lease a newly-built warehouse in South Yorkshire.



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