Carpetright set for administration - as London jobs at risk

The carpet retailer, which has ten stores across London, has filed a notice to appoint administrators.

PwC is reportedly set to be appointed to seek emergency funding or a rescue buyer, following the company’s struggles.

A company has around 10 days to avoid insolvency once a notice to appoint administrators is put forward.

Where are there stores in London?

For the time being Carpetright is continuing to operate its 272 UK stores as normal.

In north London there’s a branch at Staples Corner, Holloway and Camden.

There’s also a west London branch in Hammersmith.

And there are six stores across south London, including: East Sheen, Wimbledon, Streatham, Clapham Common, Walworth and Old Kent Road.

Why is Carpetright in this situation?

Carpetright has said there has been less demand for carpets from homeowners due to a shift to hard flooring.

It also had a major cyberattack in April, which affected sales as it had to halt trading.

Kevin Barrett, chief executive officer of Nestware Holdings, which owns Carpetright, 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.

“We have begun promising conversations with interested parties that are moving in the right direction, encouraging us that Carpetright has a viable future.”