Torquay store at risk of closure as Carpetright on brink of collapse

The Carpetright outlet on Riviera Way in Torquay could soon close after it was announced that the company was on the cusp of collapse. 

As the company appoints administrators, 1,800 British jobs could be at risk. The company now has ten days’ protection from creditors, at which point, all 272 stores will be at risk of closure. 

All stores will remain open for now, as the company claims it has “begun promising conversations with interested parties”

Advisory firm PricewaterhouseCoopers is being eyed up to handle the company’s administration, but no official appointments have been made yet.

On top of suffering the effects of a changing market and numerous economic crises, Carpetright says that it was hit hard by a cyber attack last April. 

The chain did consider a rescue plan that would see a quarter of its stores close, but since then the situation has worsened. 

Kevin Barrett, chief executive of Nestware Holdings, which owns Carpetright, said: ‘We have begun promising conversations with interested parties that are moving in the right direction, encouraging us that Carpetright has a viable future.’

Thai is not the first time that Carpetright has found itself in trouble. In 2018, the retailer shut 92 stores after getting into financial difficulty.

Founded in 1988, Carpetright opened its first store in Canning Town, East London.