New York City's abc carpet & home Under New Ownership Committed to Building on Retailer's Iconic Legacy

NEW YORK, Nov. 1, 2021 /PRNewswire/ -- abc carpet & home, a go-to destination for a unique selection of the highest quality home and hospitality products, today announced that it is under new ownership, ensuring that the legacy of the iconic New York retailer continues.

Customers and interior designers can continue to shop abc carpet & home, both in-store and online, for their and their clients' decorating and entertaining needs – from artisan furniture, handcrafted décor, and luxury items to one-of-a-kind gems that cannot be found anywhere else. The retailer will continue to offer a broad assortment of home furnishings, lighting, linens, tableware, rugs, and carpeting – sustainably sourced in keeping with the standards of the brand. 

abc carpet & home's historic location at 888 Broadway at 19^th Street in Manhattan and its warehouse outlet on the waterfront in Brooklyn are both open and welcoming customers. Gift cards and merchandise credits will continue to be honored, and all existing customer orders will be fulfilled and processed as usual.

abc carpet & home's new owners cherish the opportunity to carry forward the legacy of the New York icon that Paulette Cole has built from what was originally a pushcart business founded by her great grandfather more than a century ago. The new owners share the same deep commitment to high quality and craftsmanship that is a hallmark of the abc carpet & home brand and look forward to continuing to offer the curated selection of merchandise that abc carpet & home's loyal customers know and love, while investing to further enhance and grow the online shopping experience.

abc carpet & home's Chief Executive Officer, Aaron Rose, is continuing to work with new ownership, which is excited to join forces with the talented in-house team to lead this industry pioneer into the future.

The sale transaction was accomplished through a Chapter 11 filing by certain abc carpet & home entities. The process was supported by 888 Capital Partners, LLC – a consortium of investors with multi-generational experience in home goods and consumer products – serving as both financing provider and purchaser. The sale was approved by the U.S. Bankruptcy Court for the Southern District of New York on October 27 and closed yesterday.

About abc carpet & home

abc carpet & home is a lifestyle brand with a rich legacy in home and hospitality, known for instilling a sense of wonder and action in our guests. Food, comfort, rest, and ritual are transformed through the lens of personal and planetary well-being into choices that are good for people and even better for the world. What started in the late nineteenth century as a pushcart business selling carpets became one of the largest and most diverse rug and home collections in the world. Since 2003, our demand for consciously made artisanal goods has helped transform the retail landscape. Learn more here or find us on Instagram.

Media Contacts:

Jennifer Chon, Vice President, Marketing
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Kekst CNC
Sherri L. Toub / Wendi Kopsick
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SOURCE abc carpet & home