Carpetright

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Carpetright plc
Public
Traded as LSECPR
Industry Retail
Founded 1988
Headquarters Purfleet, Essex
Number of locations
470 (2015)
Key people
Bob Ivell (Chairman)
Wilf Walsh (Chief Executive)
Products Carpets
Revenue £469.8 million (2015)[1]
£8.2 million (2015)[1]
£4.5 million (2015)[1]
Website www.carpetright.plc.uk
Carpetright, King Street, Hammersmith, London (2016)
Carpetright, Craigavon, Northern Ireland (2009)

Carpetright plc is one of the largest British retailers of floor coverings. The company is listed on the London Stock Exchange.

History[edit]

The company was established by Lord Harris of Peckham in 1988, when he opened the first store in Canning Town.[2] In June 1993, it was first listed on the London Stock Exchange. In January 1999, it bought selected stores of Carpetland and Allied Carpets.[2] In August 2002, it acquired its first operations in Continental Europe, and in August 2005, it acquired May's World of Carpets.[2]

In May 2008, Cascade Investments LLC, Bill Gates's investment vehicle, acquired a 3% stake in the company.[3] In December 2008, the company acquired some stores, once associated with Sleepright UK.[4]

Carpetright, Leeds (2009)

In June 2011, Carpetright announced store closure plans.[5] In December 2012, it was announced the store closures saw profits leap 550%.[6] In December 2011, Carpetright posted its first ever loss for the first time since 1993.[7]

Operations[edit]

The company now has circa 565 stores.[8] It has expanded into Belgium, the Netherlands and the Republic of Ireland. Its products include a wide variety of beds, mattresses, carpets, laminate flooring, vinyl flooring and rugs.

References[edit]

  1. ^ a b c Annual Results 2015
  2. ^ a b c Carpetright History Archived 18 August 2008 at the Wayback Machine.
  3. ^ Hawkes, Steve (29 May 2008). "Bill Gates piles into Carpetright with 3% stake". The Times. London. Archived from the original on 12 June 2011. Retrieved 29 Oct 2016. 
  4. ^ Carpetright snaps up Sleepright
  5. ^ [1]
  6. ^ [2]
  7. ^ "Carpetright reports first ever profits dip since floating in 1993". theguardian.com. 13 December 2011. Retrieved 18 March 2017. 
  8. ^ http://walbrockresearch.com/will-carpetrights-shares-fly-again/

External links[edit]