Privately-owned carpet manufacturing giant Cormar continued to bolster its balance sheet in 2022/23 despite market demand and cost pressures.

Floorcoverings imports climbed in April as a first rise in six months for carpet traders helped overcome a double-digit fall in the vinyl segment.

Beaulieu International Group (B.I.G.), the diversified Belgian industrial conglomerate with interests spanning flooring to sofa fabrics, is investing €5 million transitioning to renewable energy.

Experienced retail executive Darren Kay has joined floorcoverings retailer Carpetright as stores director.

Wider gross margin helped hardwood engineered flooring wholesaler V4 Woodflooring limit the impact of a tougher demand and cost backdrop last year.

ScS has begun a consultation regarding the proposed exit from the floorcoverings product sector in a move that would concentrate the retailer's offer on upholstery and selected furniture.

Paul Bassi, chairman at Likewise Group, has sold a large chunk of his shares in the emerging floorcoverings supplier.

Higher sales, a tax credit and lower director pay helped Likewise Group achieve its first-ever full year net profit last year.

Headlam Group, the U.K.'s largest floorcoverings distributor, says it will bring forward a series of cost cuts as it grapples with an ongoing decline in the overall market.

First quarter floorcoverings imports declined as weaker figures in the carpets and wood flooring segments negated growth in vinyl.

Textile floorcoverings manufacturer Belysse Group says sales declined in the first quarter of 2024 as a consequence of weaker demand in both Europe and the U.S.

Carpetright is to reduce head office staff numbers by just over 25 percent as part of a restructuring exercise that reflects the wider downsizing of the business over the past decade. Store numbers, services and deliveries will not be affected during the process.

The diversified floorcoverings group that owns the brand of the regional North East chain Frank's The Flooring Store returned to profit last year on strong top line growth.

Restructuring work helped the retailer behind the Flooring Superstore and Direct Wood Flooring brands cut losses last year.

London Persian Rug Company has opened what it has described as the first ever large-scale warehouse in central London majoring in Oriental and Persian rugs.

Wilton Carpets booked higher profits last year with the manufacturer also committing a seven-figure sum to capital expenditure.

Self-help measures helped Mohawk Industries find profit growth in the first quarter with the world's largest floorcoverings company believing the market has now troughed.

A cyber attack against the I.T. systems of Carpetright and its sister brand The Floor Room has not compromised customer data, but is inhibiting their ability to take orders.

Weak carpet and vinyl data depressed flooring imports in February despite a first rise in parquet shipments since last autumn.

Flooring underlay and accessories supplier Interfloor has formally confirmed a series of board changes including the promotion of its HR director to managing director.

TradeChoice Carpet & Flooring has expanded its wholesale footprint with the takeover of Nottingham based T & R Floor Covering Distributors.

Flooring and furniture retailer Pay Weekly Carpets and Vinyls saw its financial performance impacted by more stringent customer credit checks last year but it expects pay back in the shape of lower future bad debt.

Carpetright is said to be looking to cut costs amid tough trading conditions while one of its larger flooring retail rivals has also taken steps to adjust to challenging demand.

Cormar Carpet Company has appointed Paul Barratt, a longtime member of the senior leadership team at rival flooring supplier Karndean, as its chief executive officer.

Flair Rugs bolstered its market position through 2022/23 with double-digit sales and profits growth despite rising administrative costs.

Cormar Carpets, the U.K.'s largest privately-owned carpet manufacturer, has augmented its delivery fleet with an investment in another ten new vehicles.

North West England flooring manufacturer Penthouse Carpets says it has a solid base from which to trade through the current market and economic uncertainties after a tougher 2022/23 period.

All flooring product categories declined as imports into the U.K. in January fell mid single-digits, but carpets outperformed both vinyl and parquet.

Flooring conglomerate Victoria says it has begun deploying cash from the sale of non-core and surplus assets to buy back shares and repay debt.

The U.K. beds market declined but still outperformed all of the upholstery, cabinet and carpet markets last year according to provisional 2023 data that combines production for domestic consumption with goods brought in from abroad.

Customers of a bust retailer hoping to get their money back under a deposit protection scheme operated by The Carpet Foundation (CF) are to be disappointed after the trade body said it would not be honouring the affected orders.

Flooring conglomerate Belysse Group has promoted James Neuling to chief executive officer, succeeding Cyrille Ragoucy, who is to become chairman and board advisor.

Shares in expanding flooring roll-up Likewise Group advanced Wednesday as the multi-site distributor disclosed a double-digit increase in early 2024 sales.

The South Wales company that rescued Mereway Kitchens last summer has emerged as the largest non-tax creditor following the manufacturer's second insolvency inside six months.

Floorcoverings conglomerate Headlam believes it can more than double the size of its business with larger customers as it cautioned that a tough 12 months for the sector has continued into the start of 2024.

Historic carpet manufacturer Brintons has cut its leverage ratio as part of a refinancing process as it looks to build on a recovery in its markets that led to higher adjusted earnings last year.

Home and leisure retailer The Range has expanded into soft and hard floorcoverings, with a pilot operating in a handful of showrooms nationwide.

Designer Contracts last year booked its highest sales and profits since before the pandemic as it benefitted from elevated demand, inventory capacity, and long-term energy contracts.

The value of floorcoverings imported into the U.K. fell high single-digits in 2023 with wood and vinyl flooring dropping at a faster rate than carpets.

The Rug Company, the private equity backed rug supplier targeting wealthy consumers and interior designers, will next month open its fourth London showroom.

The number of VAT-registered furniture retail enterprises declined by 3.7 percent last year with Yorkshire the hardest hit region and the independent sector more impacted than multi-store businesses. By contrast, flooring retailers climbed in number.

Insolvency comes within seven months of Manchester based company being sold.

Mohawk Industries, the world's largest floorcoverings company and a major supplier in the U.K. across multiple product categories, says it expects the recovery of demand in Europe to lag other territories worldwide.

Axminster Carpets has become the latest home furnishings industry manufacturer to feature on Inside The Factory, the BBC documentary series.

A large South East floorcoverings contractor with four offices around the U.K. warned it is on the brink of insolvency in a court filing on Thursday.

Tax authorities and financial creditors look set to lose out following the closure of large South West flooring independent Cullingford Carpets last year.

The Flooring Show, the dedicated trade show for the U.K. floorcoverings industry, is to be 30 percent bigger this year after organisers agreed to take on additional space.

The closure of a North East smooths floorcoverings distributor has left its closely-affiliated Belgian supplier nursing a sizeable six-figure debt.

The West Yorkshire rug and mat manufacturer behinds brands such as Howler & Scratch and Rug Guru plans to invest another £3 million on factory upgrades having spent a similar sum last year.

Carpetright owner Nestware Holdings helped finance the buyout of U.K. Flooring Direct with a loan to its ecommerce unit that runs brands including Flooring Supplies and Flooring Megastore.

Floorcoverings distributor Headlam Group is expected to post profits down by more than two thirds when it releases full year results for 2023 in the spring.

Floorcoverings distributor Likewise Group has paid the former owners of the Valley Carpets business it acquired at the start of 2022 a further £3.86 million in contingent consideration, meaning no further payments are now due.

The value of carpet imports into the U.K. declined in November despite continued strong trade with Turkey.

The Belgian carpet manufacturing group behind brands including ITC, Modulyss and Bentley has agreed a new revolving credit facility as part of a wider refinancing of the business.

Rising costs and the falling away of Covid-support schemes negated revenue growth at Tapi Carpets & Floors in 2022, accounts public over the weekend showed. It remained profitable at EBITDA level, and says it has made gains since.

Designer Contracts, the circa £40 million turnover floorcoverings contractor that majors in supplying the new-build property sector, has launched an in-house sustainability initiative, empowering its employees to further build its eco credentials.

James Sturrock has taken a new post outside the home furnishings sector following his departure as chief executive of Tapi Carpets & Floors, which has been operating under new leadership for some time.

Shares in rival U.K. floorcoverings distributors Likewise and Headlam gained as the former delivered an upbeat assessment of last year and its outlook for the period ahead in a trading update on Thursday.

Condor Group will continue to use the historic Betap name and branding following the takeover of its Dutch carpets compatriot, citing its worldwide resonance in the floorcoverings sector.

A diversified retail and leisure company that runs a handful of Frank's The Flooring Store branches across the North East booked record profits last year in a period of continued expansion.

A large positive swing in gross margin helped rug wholesaler Asiatic Carpets shrug off the impact of output falling to more normal trading levels through 2022/23.

Adjusted profits were close to flat for the Ulster Carpets group through 2022/23 as sales jumped to an all-time high to counter the impact of thinner margins.

Inflation and sales growth mean more than 10 percent of all U.K. floorcoverings retailers now have a turnover north of £1 million, according to 2023 data from HM Revenue & Customs.

Consumer household furniture prices stabilised in November, as official data showed a first rise in inflation in the category in nearly a year and a half. By contrast, stubbornly-high flooring inflation eased to a 33-month low.

Dutch carpet producer Condor is to consolidate and build its status as the largest carpet producer in mainland Europe with the planned takeover of Betap, its hitherto family-owned compatriot.

Britain's biggest floorcoverings wholesaler has agreed a settlement with insurers, nearly two years after the fire that destroyed its MCD Kidderminster distribution centre in December 2021.

A large increase in trade with Turkey helped power a first rise in the value of carpet imports in four months in October. Volume growth was even stronger.

Multi-site flooring wholesale group Likewise said year-to-date revenue remained up double-digit by November but the rate of growth has fallen 4 percentage points since the date of its half-year results.

Victoria sold 175,000sqft former Westex carpets factory last year, but sale price hadn't previously been disclosed.

Flooring trade buyers looking to comprehensively scour the market for new products face a tight January schedule with two major concurrent international events each saying they will host a wide array of exhibitors.

Flooring conglomerate Victoria last week recouped tens of millions of euros after closing a transaction to sell off surplus property in Belgium acquired as part of its takeover of Balta's rugs and U.K.-oriented broadloom carpet activities last year.

The executive chairman of Victoria has moved to reassure investors regarding the resignation from the board last week of the co-founder of one of the flooring group's largest shareholders.

Upholstery and flooring retailer ScS has appointed Phil Geary as chief marketing and digital officer, filling a post vacated earlier this month after Kyle Rowe took a new position elsewhere.

Floorcoverings conglomerate Victoria has reported a half-year net loss of £22.5 million on weak demand, higher finance costs and a slew of underlying restructuring line items.

Antony Batty & Co appointed at South West floorcoverings retailer on Monday following notice of intent filing ten days ago.

Carpet imports into the U.K. declined for the third straight month on a value basis in September and at a steeper rate than in the year so far.

Flooring supplier Victoria received almost universal backing from shareholders to accept the company's 2022/23 accounts and reappoint its auditor on Monday, but its share price fell sharply, paring back recent gains.

One of the largest single-store carpet retailers in the South West of England faces an uncertain future after administrators were lined up to take control of the company's affairs late last week.

The privately-owned flooring group behind regional distributors such as Pennine Flooring, Volante and Planners Services booked lower profits last year as rising costs mitigated the impact of higher output.

Associated Weavers says the launch of its new state-of-the-art warehouse in Northampton can help it recover share lost in the cut-length market segment as a result of events outside its control.

A West Midlands carpet retailer has folded leaving large tax liabilities but no debt to suppliers. Its owners launched a new flooring company earlier this summer.

Mohawk Industries, the world's largest floorcoverings company and a major supplier to the U.K. market, reported a third quarter net loss of $760 million after a non-cash asset write down.

Speculation that the qualified audit opinion delivered on the 2022/23 financial accounts of flooring roll-up Victoria would lead to a change of auditor for next year has proved unfounded.

Weaker sales and higher operating costs hampered profits at the U.K. distributor of well-known flooring brands such as Quick-Step, Pergo and Balterio last year.

Sales hit nine figures for TradeChoice Carpet & Flooring in 2022 amid multi-million pound investment ahead of the launch of its new transactional website and additional depots this year.

The market capitalisation of AIM-listed flooring manufacturer and distributor Victoria fell by more than £70 million in a single day on Monday with its value now almost half what it was a month ago.

Belgium, habitually the largest exporter of carpets to the U.K., slipped to third in the rankings at the height of summer as it was usurped by near-neighbour Netherlands and fast-emerging rival Turkey.

Profits declined at flooring giant Amtico last year as it absorbed rising costs and upped its warranty provision in relation to a discontinued product line.

Flooring distributor Kellars has expanded its distribution network with the buyout of an independent South Wales supplier.

Fleur Carson has been promoted to U.K. managing director at Karndean Designflooring. She succeeds Paul Barratt, who has decided to step down after 11 years in the role at the luxury vinyl tile supplier.

Securing better buying terms led to a huge leap in gross margin for Scottish carpet warehouse retailer J&W Carpets through 2022/23, helping to offset weaker demand.

The market cap of flooring roll-up Victoria dropped by more than £67 million in a single day on Tuesday in what proved a rough day all round for floorcoverings conglomerates.

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.

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.

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.

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.

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.

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 wait to unveil a new managing director at Carpetright, Britain's largest floorcoverings retailer, continues amid change elsewhere in the boardroom.

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.

Consumer prices rise for household furniture eased to their lowest level in over two years last month, but flooring inflation remains stubbornly high.

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.

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.

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.

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.

The unwind of an elevated stock position helped rug distributor Flair Flooring bolster its cash levels last year, despite recording lower profits.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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

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.

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.



Stay informed. Subscriptions start from less than £2 per week:



Already a subscriber?    Sign In