Carpetright founder Lord Harris said he remained committed to taking the retailer private as it posted interim pre-tax profit up 1.4 per cent to £27.7 million.

Harris and senior managers are still carrying out due diligence, but discussions are at an advanced stage.

“We will not reduce the offer of 1250p, despite the challenging environment,” he told Retail Week. “Due diligence should be completed early next year, but one or two of our shareholders want the company to stay public. Whatever happens, our company strategy will remain the same.”

For the 26 weeks to October 27, Carpetright achieved a sales rise in the UK and Ireland of 9.2 per cent to£219 million. Turnover was strong in June and July when poor weather lifted customer footfall, but October was disappointing.

Harris said: “The challenges with the credit market and mortgage rates affected us in October, but November was the best month Carpetright has ever had.”

Broker Panmure Gordon was relieved that discussions on Harris’s offer are at an advanced stage. However, it was concerned that trading patterns in the UK and Ireland remain volatile.

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