Carpetright to close 92 stores in restructuring plan

A list of the South West stores effected

Bodmin, Exeter, Exmouth, Honiton, Launceston, St Austell, Tiverton. 

Carpetright store

Retailer Carpetright says it is closing 92 stores and cutting 300 jobs as part of a restructuring plan.

It recently said it had started talks with lenders to ensure it does not breach the terms of its bank loans.

The chain is planning a company voluntary arrangement (CVA), which will allow to it to shut the worst-performing stores and ask for rent concessions on another 113 sites.

It is the latest in a long list of businesses to run into trouble.

Retailers are being pummelled by a range of problems, including a shift from High Street shopping to online, as well as consumers having to tighten their belts with inflation outstripping wage growth.

 

Please see http://www.bbc.com/news/business-43736535

 

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