UK flooring retailer Carpetright is on the verge of administration, threatening 1,800 jobs.
The retailer filed a notice of intention to appoint an administrator as it seeks to secure additional funding to safeguard its future.
Go deeper with GlobalData
The retailer has been granted a 10-day grace period from creditors to scout for a buyer.
During this time, Carpetright will be seeking to secure the future of its 272 UK stores and their employees.
Stores will remain open and order deliveries will continue as usual amid ongoing discussions but the retailer will not provide refunds, the BBC has reported.
PricewaterhouseCoopers has been identified as its potential administrator, although its appointment is not yet confirmed.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataCarpetright has been struggling as consumers reduce spending on furniture and furnishings.
In April 2024 it was hit by a cyber-attack which affected its online or in-store orders for almost a week and impacted restructuring plans.
Carpetright’s parent company Nestware Holdings CEO Kevin Barrett was quoted by the Guardian: “We remain focused on securing external investment to ensure as few customers and colleagues are impacted as possible.
“They are our main priority and we are taking all appropriate action to make sure they are informed and supported through this process. We have begun promising conversations with interested parties that are moving in the right direction, encouraging us that Carpetright has a viable future.”
The search for a buyer comes after the retailer experienced a form of insolvency process in 2018, leading to the closure of 81 stores.
In May 2024 it revealed plans to lay off more than 25% of its head office staff due to a prolonged downturn in trading.
