A MAJOR British high street retailer has put all 272 of its stores at risk. The Sun exclusively reported yesterday that Carpetright had filed a notice to appoint administrators. The move doesn't just leave all stores at risk but also puts 1,852 UK jobs in danger.
It is understood that experts from PwC are set to be appointed as part of the process, who will seek to find emergency funding or a rescue buyer for the troubled business. Once a notice of intent to appoint administrators is filed, companies have around 10 days to attempt to avoid insolvency. Carpetright , owned by Nestware Holdings, has suffered from weaker demand for carpets as homeowners shifted towards hard flooring and a major cyberattack in April that halted trading.
If the company does collapse into administration the future of all stores remains uncertain. Here's a full list of Carpetright stores across the UK and Ireland that could be placed at risk: The Times also reported earlier this week that Carpetright had been put up for sale, with firm PricewaterhouseCoopers (PwC) advising. Carpetright will continue to trade as normal during this process.
But it puts fresh doubt over the long-term future of the chain, which has 272 stores and employs 1,852 people. A sale of the business could involve a buyer stepping in to save all, or just parts of the company. Furniture and homeware sales have slumped across the industry as consumers delay making big purchases and prioritise essential bills .
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