An offshore investment fund has acquired ailing Allied Carpets identifying long-term value in the troubled retailer.
The UK's second-largest flooring chain has been bought by Sigma Capital Investments which is likely to want to close some stores, according to The Independent. While the offshore fund is backed by wealthy US investors, the deal highlights investment funds are willing to invest in troubled UK retailers. The deal comes a day before the firm's second-quarter rent day and an £8m bill. The chain was owned by Tapis Saint-Maclou and controlled by the Mulliez family. The French owners put Allied Carpets up for sale before Christmas and hired Lazard to handle the process. Former owner of col...
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