Carpetright close to collapse with more than 1,800 UK jobs at risk – Sussex stores under threat

One of the UK’s biggest flooring retailers confirmed it had filed a notice of intention to appoint administrators.

This move typically gives a business up to 10 days to potentially avoid an insolvency process.

Advisory firm PricewaterhouseCoopers (PwC) has been lined up to handle the administration of the company – although they have not yet been officially appointed.

Carpetright has Sussex stores in Brighton, Hove, Hastings, Newhaven, Eastbourne, East Grinstead, Crawley, Horsham, and Haywards Heath.

Nestware Holdings, parent firm of Carpetright, said the company was trying to ‘finalise additional investment’ to secure the business’ long-term future – but suggest some job losses were inevitable, regardless of the outcome.

Nestware chief executive Kevin Barrett said: “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.”

News of Carpetright’s impending collapse comes a day after it was reported the company had put itself up for sale.

Carpetright, which was founded in 1988, closed dozens of stores in 2018 after reporting a full-year loss of over £70m.

The firm has also been hit by slowing customer demand, partly attributed to the cost of living crisis.

Carpetright was hit by a cyber attack in April, which reportedly hindered the company’s restructuring plans.

Barrett added: “This has resulted in the company seeking a period of protection whilst sale negotiations proceed.”