UK Flooring Direct acquired by Carpetright owner
UK Flooring Direct has been acquired by Keswick Flooring, a subsidiary of Nestware Holdings, from administrator Teneo Financial Advisory.
The move has saved 85 jobs at the Coventry-based online business which sells flooring ranging from solid wood and laminate to luxury vinyl tiles.
Joint administrator Paul Meadows said: “I’m very pleased that, following an accelerated sale process run by our special situations M&A team, we have been able to secure a future for UK Flooring Direct.
“The sale safeguards all of UKFD’s 85 employees in Coventry and gives the business the strategic backing it requires to fulfil its ambitions.”
As part of the agreement, any outstanding customer orders will be fulfilled.
UK Flooring Direct chief executive Jason Ashby said: “I’m pleased to say that we’ve found in Nestware an ideal partner to continue our long-standing heritage as a leading provider of flooring to the UK consumer and trade markets.”
Nestware Holdings owns a range of flooring businesses including Carpetright and Flooring Megastore.