UK DIY News
Carpetright To Cut Head Office Staff Numbers
Carpetright is reportedly planning to reduce its head office staff count by more than 25% according to Sky News.
Staff are understood to have been told this morning that 70 jobs will go at the Purfleet, Essex head office as the company cuts costs amid a downturn in trading. Store staff at Carpetright's 270+ UK branches and concessions are not understood to be at risk.
Early last month, it was revealed that Teneo, a restructuring specialist, had been appointed by Carpetright to explore cost-saving measures for the business. Companies House data shows turnover for the 14 months to 1st January, 2022 was £372.6 million with underlying losses before tax of £23.4 million, compared with £493.2 million turnover and £53 million in losses in the 18 months ended 31st October, 2020.
Carpetight is owned by Nestware Holdings Ltd - part of the Meditor Group - which specialises in investing in companies within the flooring and homeware sectors. Other brands in the group include Flooring Supplies, Flooring Megastore, UK Flooring Direct, TradeChoice Carpet & Flooring and The Floor Room.
Kevin Barrett, CEO of Nestware Holdings, gave the following statement to Sky News:
"While we have worked tirelessly to navigate our current challenges, we understand the impact this restructure will have on valued members of our team.
"Our top priority remains supporting those affected through this process.
"As with many businesses, we face ongoing challenges in today's tough economic climate."
"We've carefully examined our performance against operating costs, leading us to make difficult decisions to ensure the future success of our brand."
Last month, Carpetright was hit by a cyberattack which prevented the business from taking orders instore and online, for over a week.
Source : Insight DIY, Sky News
Image : martinrlee / iStock / 1310936190
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