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Lord Harris interested in 100 Carpetright stores

Carpetright Reigate concept store 725 x 500

Lord Philip Harris, the founder of Carpetright and father of Martin Harris, the owner of carpet and flooring retailer Tapi, is understood to have made an approach to Carpetright to buy around 100 of its stores.

Martin Harris sold all his shares in the business and left Carpetright in 2014, making no secret of his plan to set up another flooring chain. His first Tapi store opened in London in May 2015, with the support of Lord Harris and high-profile backers including Lord Kirkham (the founder of DFS) and British textile manufacturer Sir Harry Djanogly, among others. The chain now has around 100 stores.

Just weeks ago 
Carpetright revealed plans to close 60 stores in a bid to save the beleaguered business, but neither Carpetright or advisors Deloitte have responded to the rumoured £25 million offer from Lord Harris.

Wilf Walsh, Carpetright CEO, and the Harris family have been at loggerheads since their split, and Walsh commented about 'intensified competition' in a trading update in December.

Source : The Insight DIY Team

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04 April 2018

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