The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Other Household Equipment In Specialised Stores 47.53 - Retail sale of carpets, rugs, wall and floor coverings in specialised stores
300 jobs Number of planned job losses
Announcement Date
12 April 2018
Employment effect (start)
Foreseen end date
30 September 2018
Description
Flooring retailer Carpetright has entered into a company voluntary agreement with its creditors in a bid to save the business. The changes will allow the company to continue trading though 300 jobs will be lost. The plans, which have been approved by the firm's creditors and landlords, will see a total of 92 stores closed and rent reductions applied to a further 113 sites. It is understood that 11 stores have already stopped trading. The cuts mean that around one quarter of the company's 400 stores will close, and one in nine of the 2,700 UK employees will lose their jobs. The closures are expected to be completed by the end of September 2018.
Sources
12 April 2018: The Guardian
26 April 2018: Sky news
Citation
Eurofound (2018), Carpetright, Internal restructuring in United Kingdom, factsheet number 93989, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93989.
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