A FRENCH retailer has launched a £84.2 million bid for Allied Carpets, topping venture capital group Wassall's £72.5 million offer.
Tapis Saint-Maclou has bid 93p a share for the retail group which has a site in Blackburn.
The flurry of offers followed a sharp drop in sales at the retailer, which last month said it had dipped £4.2 million into the red.
Chairman of Allied Carpets, Julian Lee said: "Over recent weeks we have made significant progress in improving Allied Carpet's trading performance.
"We have also developed a clear plan aimed at turning Allied Carpets round that requires no further funding from shareholders.
"However we have also been talking to Saint-Maclou about the possibility of combining the two business to form a pan-European force in carpet retailing."
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