Carpetright founder Lord Harris of Peckham has ambitious plans to double the size of the business in five years if his bid to take the company private is successful.

Lord Harris told Retail Week he wants to open 50 more stores in the UK. In Europe, he wants to move into Germany, Spain and Scandinavia, and expand in existing markets Belgium and Holland. He also wants one of his sons to become chief executive within two years.

Lord Harris’s bid was partly sparked by his frustration with the City. He said: “The trouble is they don’t stay in it long enough. You’ve got their support, but we want to move into markets we know will work without having to talk to them every five minutes.”

He stressed he was not criticising his shareholders. “They have been very good to me,” he added.

Lord Harris’s offer is subject to due diligence. Total sales at Carpetright’s UK and Ireland business, including Storeys, rose 9.8 per cent in the 23 weeks to October 6. Like-for-likes (excluding Storeys) dropped 0.8 per cent.

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