A subsidiary of Carpetright owner Nestware Holdings has bought online flooring specialist UK Flooring Direct in a pre-pack administration that has saved all jobs at the firm.
The etailer has been snapped up by Keswick Flooring, a subsidiary of Nestware Holdings, from administrator Teneo Financial Advisory and all 85 employees have been retained.
Joint administrator Paul Meadows said that the sale gives the business “the strategic backing it requires to fulfil its ambitions”.
He also confirmed that any outstanding customer orders will also be fulfilled following the deal.
UK Flooring Direct chief executive Jason Ashby said: “I’m pleased to say that we’ve found in Nestware the ideal partner to continue our long-standing heritage as a leading provider of flooring to the UK consumer and trade markets.”
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Keswick chief executive James Davey added: “This acquisition brings together two powerhouses of the online flooring retail sector, creating an entity that is well-positioned to capitalise on the evolving market trends towards convenience, service and value.”
Carpetright was taken over by its largest shareholder Meditor – the parent company of Nestware – in 2019 in order to repay its debt.
Nestware has since been on an acquisition spree in the floorings market.
It has snapped up Flooringsuppliers.co.uk owner Keswick Flooring, Flooring Megastore and Contemporary Trade Flooring, and one of the UK’s largest distributors of floor covering products and accessories Carpet & Flooring Limited.
Former Howdens and Sainsbury’s director Kevin Barrett joined Nestware as CEO last year.
On the UK Flooring Direct acquisition, Barrett said: “Nestware is dedicated to transforming the way consumers and trade customers buy flooring across Europe.
“The acquisition of UK Flooring Direct is a testament to this commitment. Together, these brands will shape the future of the flooring industry and redefine the way consumers shop for flooring online.”
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