1000s of jobs and 100s of stores could be at risk as the retailer files for administration 🏬
It’s being reported that Carpetright will file a notice to appoint administrators today , potentially putting 3,000 jobs at risk. Sources have told The Sun that advisers at PwC concluded there was no way to achieve a solvent sale for the retailer, which has been experiencing declining sales. One insider described the situation as 'a real mess.
Carpetright, which operates around 300 stores across the UK, has been severely affected by a reduction in consumer spending. Sales of furniture and homeware have declined industry-wide as consumers delay major purchases and focus on essential bills. Earlier this year, Carpetright enlisted restructuring experts Teneo to explore cost-cutting measures.
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