“UK’s leading flooring retailer on the brink of collapse, 1,852 jobs at risk”
One of the largest flooring retailers in the UK, Carpetright, has filed a notice of intention to appoint administrators, potentially placing 1,852 jobs at risk. The struggling company confirmed this move, which typically allows for a 10-day period to avoid insolvency. Carpetright stated that it is still working towards a solution and will continue to operate normally both in-store and online.
Parent company Nestware Holdings stated that it is actively seeking additional investment to secure Carpetright’s long-term future. However, the company also acknowledged that job losses are likely unavoidable, regardless of the outcome. Kevin Barrett, chief executive of Nestware, emphasized the company’s focus on minimizing the impact on customers and employees, and ensuring they are informed and supported throughout the process.
“We are in discussions with potential investors and are encouraged by their interest in Carpetright’s future,” said Barrett.
Earlier this year, Sky News reported that Carpetright was cutting over 25% of its head office staff in an effort to save money. The company has been struggling with a prolonged downturn in sales, partly due to weak consumer confidence and the COVID pandemic’s impact on household budgets. Additionally, strong competition from other retailers and a cyber attack in April have also contributed to the company’s financial struggles.
Founded in the late 1980s by Lord Harris of Peckham, Carpetright has already closed dozens of stores in 2018 in an attempt to control losses. The company will continue to operate while seeking a solution to its financial difficulties. For more updates on this developing story, visit Sky News.
