Tapi Carpets and Floors has completed a multimillion-pound acquisition of British floor coverings retailer Carpetright, saving 300 jobs.
The deal includes the brand name, 54 stores, intellectual property and two warehouses.
Go deeper with GlobalData
However, Carpetright’s head office in Purfleet, Essex, and 219 other stores are set to close.
The pre-pack administration deal will also result in the immediate loss of 1,018 jobs. A further 580 positions, primarily at the head office, are to be cut after the transition to Tapi.
Carpetright had 273 shops across the country and employed more than 1,800 people before entering insolvency.
PricewaterhouseCoopers joint administrator Zelf Hussain was quoted by the BBC: “The sale of some stores and the brand to Tapi has allowed over 300 jobs to be saved, and gives the Carpetright brand the chance to continue and flourish under its new ownership.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“However, it is deeply saddening that for the remainder of the workforce there will be redundancies. We are committed to helping those affected and will make sure redundancy claims are processed as quickly as possible.”
The 54 stores acquired by Tapi are undergoing a temporary shutdown for system updates, including ordering, telephone and email systems.
PwC advised customers with outstanding orders from the non-acquired stores to seek refunds from their payment card providers.
In May 2024, Carpetright announced plans to reduce its head office staff by more than 25% due to a sustained downturn in trading.
The search for a buyer by PwC began after it filed a notice of intention to appoint an administrator in early July.
This acquisition marks a significant expansion for Tapi.
Carpetright founder Lord Philip Harris will continue to provide advisory services to Tapi.
