United Carpets benefit from Allied Carpets collapse
The recent collapse of most of the Allied Carpets chain is going to hugely benefit the leaders of the carpet market, Carpetright and AIM listed United Carpets. United Carpets is the premier carpet company in the United Kingdom which provides each and every carpet solution needed to have a great home or office.
New company, Allied Carpets Retail is set to retain 51 of Allied Carpet Properties’ two hundred and seventeen stores and may also get more from administrator BDO Stoy Hayward in the coming weeks. United Carpets house broker has also commented on this by saying that forty two of United Carpets’ seventy six stores are in close proximity to the Allied Carpets stores. Freddie George, an analyst for United Carpets said that they should see a three million pound rise in sales after the Allied Carpets stores close down. This figure will also account for ten percent of its total sales.
United Carpets will definitely benefit from this closure since they are closest to Allied Carpets stores in both sales and geographical positioning. Freddie George also said that the company will release its annual results on July 30th. Freddie George also stated that the company predicts profits of around 1.2 million at the end of March 2009.