The prominent UK flooring retailer Carpetright faces a critical juncture as it has filed a notice of intention to appoint administrators, potentially endangering 1800 jobs. This move comes amidst urgent efforts to secure additional funding to sustain its operations.
Photo: Dreamstime
The company, Carpetright's decision, filed in the High Court, grants it a 10-day shield from creditors while it navigates negotiations aimed at securing vital investment. Carpetright, operating 272 stores across the UK and employing 1852 people, emphasises that it will continue trading during this period.
Originally acquired by Meditor Group in 2019 for £15 million, Carpetright has struggled to regain financial stability amid competitive pressures and economic uncertainties. The company's filing for administration underscores its urgent need for financial lifelines amid operational challenges and economic headwinds.
The cuts are part of an overhaul at Unilever, cutting 7500 jobs globally. This was announced in March.
Source: www.theguardian.com