A MAJOR retailer has collapsed into administration, putting all of its 272 stores at risk. Carpetright has now appointed PricewaterhouseCoopers (PwC) as administrators. The firm says it is working to finalise additional investment to secure the long-term future of the company.
It comes after The Sun exclusively reported this morning that it was planning the move, which puts 1,852 UK jobs at risk. Carpetright, one of the country's biggest floor-covering retailers, said the decision was made following "financial pressures" after a software attack that disrupted trade in April. This then subsequently impacted plans to restructure and has resulted in the company seeking a period of protection while the sale negotiations continue.
Kevin Barrett, CEO of Carpetright's owner Nestware Holdings, said: "We remain focussed 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." Mr Barrett added that the company has begun "promising" conversations with interested parties regarding the potential sale.
He said these conversations are "moving in the right direction, encouraging us that Carpetright has a viable future ". The Times also reported earlier this week that Carpetright had been put up for sale. Carpetright will continue to trade as normal during this process.
But it puts fresh doubt over the long-term fut.
