Turnaround specialist Hilco has emerged as the owner of Allied Carpets.
Allied Carpets, the UK’s second-biggest flooring retailer, was sold by former French owners Tapis Saint-Maclou to offshore fund Sigma Capital in March.
According to the Financial Times, Hilco UK is the lead investor in the fund, alongside private individuals.
Hilco’s chief executive Paul McGowan said he wanted to keep Hilco’s involvement private while it worked on stabilising the business.
Hilco has been linked with distressed retailers in the past 12 months. It tried to buy Woolworths and then acted as advisors to administrators Deloitte when the now defunct retailer launched its closing down sale. Members of Hilco also sat on MFI’s board before it hit the buffers.