Tapi buys Carpetright brand and stores

The British flooring chain Carpetright, which has recently been in financial difficulties several times, is now in new hands: Competitor Tapi Carpets and Floors is taking over both the Carpetright brand and 54 (of around 270) stores of the ailing company. As a result, 300 employees will keep their jobs, but around 1,000 will lose theirs, as reported by the British daily newspaper “The Guardian”. The Carpetright head office in Essex is not included in the multi-million euro deal.

“Our goal, initially, was to save all of Carpetright", said Jeevan Karir, Managing Director of Tapi. However, it quickly became clear that this was not profitable. “The company has been materially loss-making for a number of years and it has significant debt held by the owner.” Tapi intends to expand into new areas through the acquisition.

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