UK DIY News
Carpetright Files Notice Of Intention To Appoint Administrators
Carpet and floorings retailer Carpetright has confirmed it has filed a notice of intention (NOI) to appoint administrators.
The act of filing an NOI provides Carpetright with ten days in which it is protected from creditor action, during which the company can determine a way to proceed to avoid insolvency.
It is understood that stores will remain open and the online business will continue to take orders while parent company Nestware Holdings seeks a solution.
Nestware chief executive Kevin Barrett told Sky News: "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 Times reports that administrators are discussing a possible acquisition by The Floor Room, another company owned by Nestware Holdings; Kingfisher, Alteri, Hilco and Gordon Brothers are also understood to have been approached.
In April 2024, Carpetright was unable to trade for almost a week following a cyber attack, and a month later, the retailer announced its intention to cut head office staff by 25%.
Carpetright employs nearly 2,000 staff and trades from just over 270 stores.
Source : Insight DIY
Image : martinrlee / iStockphoto.com / 1310936190
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