Carpetright Heading Into Administration Seeks Buyer

On Friday 12th July, major floorcovering retailer Carpetright has filed a notice of intention to go into administration at the High Court. Media report suggests that 272 stores and 1,800 jobs are now at risk.

This notice of intention provides ten days of security to find a buyer before Carpetright officially heads into administration. During this time, Carpetright will continue to trade while the UK-wide company now seeks a rescue buyer. Advisory firm PricewaterhouseCoopers (PwC) has been appointed to lead the sales process.

The announcement follows from the flooring retailer earlier in the week declaring it is up for sale, as sales struggle during high competition and a slowdown in demand. Previously, in April, after a cyber-attack Carpetright appointed consultants Teneo to explore cost-saving measures which led to the company’s plans to axe more than 25% of head office staff in Purfleet, Essex – equivalent to around 70 jobs.