Carpetright customers are owed nearly £8 million for unfulfilled orders following the company's recent news-making collapse. This amount owed impacts approximately 21,000 shoppers. Unfortunately, most of these customers are unlikely to receive refunds, according to a statement from the company's directors. Reports suggest that the total amount owed may be significantly higher.
This news comes after the company's collapse at the beginning of August this year. At the time, debts were estimated to be around £80 million, affecting suppliers, customers, and landlords. At the time, reports specified that £24 million was owed to suppliers, £30.9 million to 'other creditors', including customers, and additional debts amounted to £15.6 million. Following the collapse, Tapi took over 54 Carpetright stores and acquired intellectual property rights, including the Carpetright and Harris Carpets brands.
Photo: Dreamstime.
Reports state that Talal Shakerchi, owner of Nestware Holdings, the parent company of Carpetright before its collapse, has faced criticism for transferring the Carpetright brand and its intellectual property rights to Nestware in December for £12 million, just before the company's collapse.
This decision has raised concerns among stakeholders, particularly as Tapi Carpets, which acquired Carpetright in July, was compelled to pay Nestware £5 million for the chain's intellectual property.
Newly filed documents reveal that unsecured creditors are owed a staggering £373 million, with many debts likely to go unpaid. Landlord creditors, including B&Q, B&M, Asda, and British Land, account for £148 million of this debt, while trade creditors are owed £226 million.
This situation highlights significant financial challenges following the flooring chain's downfall, leaving customers and creditors in a precarious position.
Source: www.thetimes.com