Family-run carpet business Adam Carpets Ltd has confirmed it is exploring options after experiencing a significant decline in sales.

The business, which is based in Greenhill Works Industrial Estate on Birmingham Road, Kidderminster, said that the drop in revenues has been due to a number of reasons, including a reduction in footfall and a negative response to the Government’s autumn budget.

A statement from Chris Adam, Managing Director, said: “Adam Carpets Ltd has seen a significant drop off in sales since the autumn of 2024 with sales levels deteriorating in some market segments up to one third less than normal trading volumes.

“This deterioration has happened for a number of reasons, the most significant being adverse retail trading conditions in its customers retail stores across the UK since October 2024. This is due to the negative UK consumer response to the government’s autumn budget led directly to a significant drop in retail footfall and consumer spending on more expensive floorcoverings.

“With gas and electricity prices remaining high and an increasingly negative consumer spending outlook around house price stagnation and the upcoming increases in both National Insurance and National Minimum Wage, the company has reached the position where it no longer sees the opportunity to continue as a going concern.

“We are, therefore, exploring all available alternatives to maximise returns to creditors.”