Carpetright has become the latest household name to fall into insolvency following the likes of The Body Shop , Ted Baker and online luxury fashion retailers Matches and Farfetch earlier this year. The business, which is one of the largest British retailers of floor coverings and beds, has now been rescued out of administration by rival Tapi with the loss of more than 1,500 jobs and 218 stores. Just over 300 jobs are being saved as part of the deal along with 54 shops.
According to data, it’s estimated that 1,018 Carpetright employees face immediate redundancies, with others estimated to be redundant by the end of the week. Kevin Mountford, savings expert and co-founder of Raisin UK, said: “The news that over 1,000 roles at Carpetright are now redundant will be massively disappointing for their employees who were hoping for a rescue deal. “Tapi has confirmed they have acquired around 300 staff members who will retain their jobs with the new parent company, however, Carpetright’s other employees face a much more difficult situation.
” According to The Insolvency Service, employees might be entitled to statutory redundancy pay, compensatory notice pay and holiday pay . Staff can apply to the Insolvency Service for redundancy and other payments if you worked for the company under an employment contract. Workers and self-employed contractors who provided services to the company are not eligible to apply.
Mountford added: “Due to the deal meaning Tapi just acquired some.