Meditor Holdings, a British hedge fund, offered to acquire Carpetright, one of the largest British retailers of floor coverings, at a £15m valuation. "We believe the MHL offer is in the best interests of all stakeholders. While we have made significant progress with our recovery plan for the Carpetright Group, our ability to invest in the future of the business has been constrained against the backdrop of limiting banking covenants and a very challenging consumer market. With a recapitalised business and the backing of a committed new owner with the resources to invest in Carpetright for the long term, we will be able to complete our recovery in the private arena and emerge as a stronger business," Bob Ivell, Carpetright Chairman.