Bensons for Beds Expands Footprint with Strategic Acquisition of 19 Carpetright Stores

In a significant move within the retail sector, Bensons for Beds has announced the acquisition of 19 former Carpetright stores, marking a strategic expansion for the furniture retailer. This acquisition occurs in the wake of Carpetright’s insolvency, which left a trail of store closures and job losses. Before its downfall, Carpetright operated 273 stores across the UK and employed over 1,800 people, but the chain faced mounting pressure from declining sales and operational setbacks, including a devastating cyber-attack that disrupted online ordering capabilities. Bensons for Beds, currently operating 162 locations, is eager to increase its footprint to over 200 stores in the coming years. Chief Executive Nick Collard emphasized that enhancing store presence remains a priority, despite the "challenging" conditions prevalent in the market for high-end furniture. He expressed optimism about the company’s trajectory, noting that Bensons has been regaining market share and returning to profitability in 2023—a turnaround he attributes to the dedicated efforts of the entire team. The acquisition is seen as a proactive step, positioning Bensons favorably for the anticipated recovery of the wider retail market. Collard remarked on the strategic importance of this purchase, stating that it sets the company up well for future growth when conditions improve. The deal is also expected to create new job opportunities, with PwC joint administrator Rachael Wilkinson expressing hope that the transition would benefit former Carpetright employees who are seeking new employment. The collapse of Carpetright, founded in 1988, was a significant event in the retail landscape, particularly as it resulted in the closure of over 200 stores and redundancy for more than 1,000 workers. While rival Tapi managed to secure some of Carpetright’s brand and operational assets, including 54 stores and two warehouses, the loss of such a well-known retailer has left a void in the market. The emotional toll of this transition was noted by Tapi’s leadership, who expressed regret over the inability to rescue more customer orders and jobs amidst the turmoil. As Bensons for Beds navigates this acquisition, the focus remains on resilience and adaptability in an evolving retail environment. The company’s efforts to expand while maintaining a focus on profitability may well set a precedent for other retailers facing similar challenges in the current economic climate.