Carpetright May Buy Weaker Rivals

London, England, Jan. 6, 2009--Carpetright may consider buying Topps Tiles and other floorcovering rivals in the next year or so, as the UK flooring retailer controlled by Lord Harris of Peckham sets out medium-term growth plans, according to the Financial Times.

A profits warning in November and a sharp fall in sales of flooring have hit Carpetright hard, but the company’s management insists that after 12 months of consolidation and reducing debt it could buy businesses.

Lord Harris, chairman and chief executive, said that could open the door for acquisitions. “Definitely – there are quite a few things we have on the back burner.”

He said that could include an attempt to buy Topps Tiles, the UK tiling chain, although he added: “Not for at least a year.”

Lord Harris, who has been selling carpets for half a century, is facing one of his toughest tests because the company is far from immune to the consumer downturn.

Reducing costs will be crucial over the next year and Carpetright has taken several measures at its warehouse, including new machines to make cardboard tubes and new metal frames to manoeuvre the rolls, which will save time. It is also recycling plastic.