The founders of Carpet Exchange have bought back from Flooring America Inc. the original 12 Carpet Exchange stores. The stores, located in Colorado and Wyoming, and two Colorado Carpet & Rugs stores were purchased by Bruce Odette, Gary Schwartz and Michael Goldfarb who operate as GSO Investments L.L.C. The trio originally established Carpet Exchange 13 years ago.

According to the filing, the transaction’s purchase price was $3.8 million in cash for all assets plus $513,000 Carpet Exchange has on hand. The deal includes 13 stores in Colorado and one in Wyoming. Flooring America filed for Chapter 11 bankruptcy protection more than a month ago, closed 35 of its 281 stores and eliminated approximately 150 positions on its corporate staff.